Technical buying supports rally in livestock, cattle break to new highs for the move. Higher cash also supportive. Grains set back on technical selling, harvest pressure, hopes for Black Sea export deal extension. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Technical Buying in Livestock Pushes Cattle into New Highs, Grains Lower on Harvest Pressure, Black Sea Export Hopes
Technical buying supports livestock, cattle break to new highs for move. Grains see technical selling, harvest pressure, Black Sea export deal hopes. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
October 18, 2022 11:24 AM
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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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