A tough down day in grains with massive fund selling, weather played a role as well as the China corn cancellation. Will China cancel any more business? Corn took out key chart support and all three classes of wheat made new contract lows, so when will the bleeding stop? Soybeans held support but for how long? Cattle are back near highs. And hogs wait for cash. Alan Brugler of Brugler Marketing has details.
Tough Day in Grain Markets on China Cancellation, Weather, Technical Selling: Cattle Back Near Highs, Hogs Wait for Cash
A tough down day in grains with massive fund selling, weather played a role as well as the China corn cancellation. Cattle back near highs, while hogs fail. More with Alan Brugler of Brugler Marketing.
April 27, 2023 02:19 PM
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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