DTN Grain Closing: Grains Sink

Soybean harvest. ©Debra L Ferguson

Long Overdue Correction Sinks Grain, Soybean Futures

The law of gravity appears to have finally hit the grain and soy markets Tuesday. After a 4-week run up that saw corn move more than 50 cents higher and soybeans close to $1.40, profit-taking appears to be taking hold. The markets had reached a dangerously overbought condition with funds holding their longest position since May of 2018.

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