Ag markets rebound and see corrective buying after the commodity wide selloff Wednesday. Cattle still trying to bottom and await larger cash trends which so far have been soft but the DOW hits record highs which should be positive for consumer demand. Grains get help from decent weekly exports and a big soybean sale to unknown and the lower dollar. Scott Varilek, Kooima Kooima Varilek, has more.
Ag Markets See Corrective Buying After Wednesday Selloff: Exports, Lower Dollar Supportive
Ag markets rebound, see corrective buying after the commodity wide selloff Wed. Cattle still trying to bottom and await larger cash trends which so far have been soft. Scott Varilek, Kooima Kooima Varilek, has more.
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Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
Brad Kooima with Kooima Kooima Varilek says the charts look positive but he thinks a healthy correction is in store. He’s also skeptical about USDA’s new cash report.
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