Wheat Rallies on Talk of China Biz, Row Crops 2-Sided: Cattle and Hogs Confirming Lows?

Wheat rallies with talk of China biz, plus corrective buying, Soybeans off highs w/Brazil rain chances, corn makes new lows. Cattle & hogs consolidating, so are the lows in? DuWayne Bosse, Bolt Marketing, has more.

Wheat rallies with talk of China looking for U.S. wheat and seeing corrective buying, while soybeans are off highs after hitting chart resistance and watching Brazil rain chances, plus the lack of China biz confirmation. Corn hits more new lows but is trying to hold. Cattle and hogs continue to recover, so are the lows in? DuWayne Bosse, Bolt Marketing, has more.

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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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