Soybeans Tank on China Economic News, Corn and Hard Wheats Make Contract Lows: Cattle Rebound

Grains fall on risk off technical selling. Beans & meal led losses on China’s GDP news. Corn, KC & MN wheat hit contract lows. Cattle rebound despite bearish outside markets. Allison Thompson, The Money Farm, has more.

Grains end lower with risk off technical selling. Soybeans and meal led the losses on China’s GDP news and corn, KC and MN wheat all made new contract lows. Cattle rebound despite bearish outside markets. Allison Thompson, with The Money Farm, has analysis.

AgWeb-Logo crop
Related Stories
Brad Kooima with Kooima Kooima Varilek says the charts look positive but he thinks a healthy correction is in store. He’s also skeptical about USDA’s new cash report.
DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
Jon Scheve of Scheve Grain says corn will have a difficult time finding a bottom until harvest pushes past 70%. After that the $8 billion of diesel aid will provide a bridge to help farmers store and wait for better prices.
Read Next
Josh Linville says tight nitrogen supplies, rising demand and global disruptions to sulfur supplies are keeping pressure on fertilizer markets, even if tensions in the Strait of Hormuz ease.
Get News Daily
Get Market Alerts
Get News & Markets App