Grains ended lower on technical selling, harvest pressure and export concerns tied to all-time low water levels on the Mississippi River. However, wheat was also chasing headlines about hopes for an extension of the Ukraine export deal and rain chances in the Plains. Livestock staged another big rally on fund buying with spot month live cattle hitting the highest level since 2015 and hogs trading on China export hopes. Michelle Rook gets full analysis with Brian Grete of Pro Farmer.
Strong Close in Livestock on Fund Buying; Grains See Technical Selling, Harvest Pressure, Export Concerns and Hopes
Michelle Rook gets analysis with Brian Grete of Pro Farmer.
October 18, 2022 02:52 PM
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Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
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