Soybeans and meal see profit taking on Brazil rain chances which leads to technical selling in corn and wheat. Cattle rally into a slightly friendly COF report. Crude oil rebounds but may be turning into a bear market. Darren Frye, Water Street Solutions, has more.
Soybeans See Profit Taking with Brazil Rain Chances, Pull Down Corn and Wheat: Cattle Rally Into Slightly Friendly COF, Crude Oil Recovers
Soybeans see profit taking on Brazil rain chances, pull down corn and wheat. Cattle rally into a slightly friendly COF report. Crude oil rebounds. Darren Frye, Water Street Solutions, has more.
November 17, 2023 02:37 PM
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Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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