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A red day in ag markets with risk off fund selling tied to the implosion in crude oil. However, Vince Boddicker of Farmers Trading Company says there were other factors including better weather in South America and wheat areas of the U.S. and Black Sea, record Brazil corn and soybean estimates from CONAB, poor China economic news and harvest pressure. How much technical damage was done and are the funds going to push the short side of the market again? Cattle and hogs were also lower on profit taking as markets are overbought, plus hedge pressure.
See omnystudio.com/listener for privacy information.
By Michelle RookA red day in ag markets with risk off fund selling tied to the implosion in crude oil. However, Vince Boddicker of Farmers Trading Company says there were other factors including better weather in South America and wheat areas of the U.S. and Black Sea, record Brazil corn and soybean estimates from CONAB, poor China economic news and harvest pressure. How much technical damage was done and are the funds going to push the short side of the market again? Cattle and hogs were also lower on profit taking as markets are overbought, plus hedge pressure.
See omnystudio.com/listener for privacy information.

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