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Grains end mostly higher Tuesday, wtih cattle mixed and hogs lower. Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were positioning ahead of the election, Fed decision and WASDE and seeing some strong underlying demand in corn with another flash sale of 4.9 million bushels to unknown. Corn closed above some key moving averages like the 100 day but all the grains remain fairly rangebound. Live cattle closed mostly higher except Dec bouncing off the 200 day moving average with funds defending their long position and higher Choice cutouts. Lean hogs saw follow through selling and fund long liquidation after the bearish reversals Monday and Hoogendoorn says its possible the market is in the process of topping.
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By Michelle RookGrains end mostly higher Tuesday, wtih cattle mixed and hogs lower. Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were positioning ahead of the election, Fed decision and WASDE and seeing some strong underlying demand in corn with another flash sale of 4.9 million bushels to unknown. Corn closed above some key moving averages like the 100 day but all the grains remain fairly rangebound. Live cattle closed mostly higher except Dec bouncing off the 200 day moving average with funds defending their long position and higher Choice cutouts. Lean hogs saw follow through selling and fund long liquidation after the bearish reversals Monday and Hoogendoorn says its possible the market is in the process of topping.
See omnystudio.com/listener for privacy information.

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