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Grains end lower for a second day while livestock rally. Chuck Shelby, Risk Management Commodities, says grains saw technical selling. Corn and soybeans had a good rally last week post-election and reached the top end of trading ranges. When prices could not take out chart resistance funds took profits, but there was also a pick up in farmer selling. The collapse in soybean oil also weighed on the bean complex and all the grains reacted to the strong dollar. Wheat made new lows for the move with improved weather in the U.S. and Black Sea. Cattle futures extended gains after reversals and selling exhaustion on Monday plus lower feed prices and that also helped hogs hit new contract highs.
See omnystudio.com/listener for privacy information.
By Michelle RookGrains end lower for a second day while livestock rally. Chuck Shelby, Risk Management Commodities, says grains saw technical selling. Corn and soybeans had a good rally last week post-election and reached the top end of trading ranges. When prices could not take out chart resistance funds took profits, but there was also a pick up in farmer selling. The collapse in soybean oil also weighed on the bean complex and all the grains reacted to the strong dollar. Wheat made new lows for the move with improved weather in the U.S. and Black Sea. Cattle futures extended gains after reversals and selling exhaustion on Monday plus lower feed prices and that also helped hogs hit new contract highs.
See omnystudio.com/listener for privacy information.

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