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Darren Frye, Water Street Solutions, says speculators look like they are re-establishing their short positions at least in the corn and soybean markets. “They are selling on any rally,” he says.
“It’s like farmers threw in the towel after getting sick of waiting for better prices or realized they’re going to need bin space,” says Jerry Gulke. He shares four points that might mean lower prices aren’t over yet.
Grains back lower as wheat drags down corn and soybeans and Randy Martinson, Martinson Ag, says funds are back in sell mode. Cattle are trying to bounce awaiting cash news while hogs are mostly lower again.
Corn and soybeans see double digit gains on short covering and talk of China biz says John Payne, Advance Trading, while wheat struggled. Cattle were hit by more bird flu news, hogs reversed off new lows.
Corn and soybeans see double digit gains on fund short covering after seven down days. John Payne, Advance Trading, says the markets were oversold and due for a correction.
Cattle lower on more bird flu news but at least holding support. Scott Varilek, Kooima Kooima Varilek. Hogs make more new lows for the move and may contract lows. Grains see a short covering bounce.
Jeff Hoogendoorn, Professional Ag Marketing, says the cash and cutouts have been stagnant. So, the lean hog futures have continued to take all the premium out of the market to trade down to the index.
Grain and livestock end lower. Hogs make new lows for the move, pulling down cattle but funds are selling in livestock and back selling in grains. Jeff Hoogendoorn, Professional Ag Marketing, wraps up the day.
Corn and soybeans saw some early short covering as they are oversold but are getting drug down by wheat and fund selling says Kent Beadle, Paradigm Futures.
Steve Meyer, senior livestock economist, Ever.Ag Insights, says cash and cutouts just stalled the last six weeks, pulling down lean hog futures and cutting into break evens and profit levels.