Wheat Rallies on China Biz and Pulls up Corn, Soybeans Fade: Cattle Hit New Low, Gold Hits Record Highs

Wheat up on China export biz, pulling up corn. Soybeans fall on China news, Brazil rain chances. Cattle make new lows but are they bottoming? Gold hits record highs. John Payne, Hedge Point Global Markets has more.

Wheat up on China export biz and that pulls up corn which also saw Mexico sales. Soybeans and meal fade on China news and Brazil rain chances. Cattle make new lows but are they close to a bottom? Gold hits record highs. John Payne, Hedge Point Global Markets has details.

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Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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.
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