Corn and wheat try to hold early gains spurred by another 7.3 mb SRW wheat sale to China but are running into chart resistance and see some farmer selling and hedge pressure. Plus, soybeans have pulled back removing Brazil weather premium. Cattle bounce but will the strength hold? Gold reverses off new highs, crude oil fails. Randy Martinson, Martinson Ag, has more.
Wheat and Corn Try to Hold Gains on China Sales, But Soybeans Break: Cattle Bounce but Will it Hold?
Corn and wheat try to hold early gains on a 7.3 mb SRW wheat sale to China but hit resistance. Plus, soybeans remove Brazil weather premium. Cattle bounce but will it hold? Randy Martinson, Martinson Ag, has more.
December 05, 2023 11:40 AM
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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.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
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