AgDay TV Markets Now: Allison Thompson, The Money Farm, says grains see fund selling with a risk off day in outside markets, China’s GDP tanks soybeans and meal.
AgDay TV Markets Now: Allison Thompson says Fund Selling Hits Grains, Where Will They Find Support?
AgDay TV Markets Now: Allison Thompson, The Money Farm, says grains see fund selling with a risk off day in outside markets, China’s GDP tanks soybeans and meal.
January 17, 2024 06:30 PM
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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.
DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
Jon Scheve of Scheve Grain says corn will have a difficult time finding a bottom until harvest pushes past 70%. After that the $8 billion of diesel aid will provide a bridge to help farmers store and wait for better prices.
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