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Another lower day in most of the grain markets with new lows in soybeans. Tomm Pfitzenmaier, Summit Commodity Brokerage, says soybeans suffered from report hangover, strong crop rating and ideal August weather and that all weighed on the corn market as well and negated the key reversal. Plus, he says corn saw farmer selling after the higher close Monday. Wheat was mostly lower even with a softer dollar as demand is still slow. Cattle bounced but can the market build on it? He says it might just be another selling opportunity for the funds. Hogs continue in a downtrend with lower cash.
See omnystudio.com/listener for privacy information.
By Michelle RookAnother lower day in most of the grain markets with new lows in soybeans. Tomm Pfitzenmaier, Summit Commodity Brokerage, says soybeans suffered from report hangover, strong crop rating and ideal August weather and that all weighed on the corn market as well and negated the key reversal. Plus, he says corn saw farmer selling after the higher close Monday. Wheat was mostly lower even with a softer dollar as demand is still slow. Cattle bounced but can the market build on it? He says it might just be another selling opportunity for the funds. Hogs continue in a downtrend with lower cash.
See omnystudio.com/listener for privacy information.

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