Grain and livestock futures saw a commodity wide selloff on Tuesday tied to the “risk off” in outside markets like crude oil and the higher dollar. However, weekend rains in Argentina also weighed on soybeans. But did soybean do technical damage closing under $15? Bill Biedermann of AgMarket.Net has the answer.
Commodity Wide Sell-off in Ags with “Risk Off” in Outside Markets and Argentina Rains: Did Soybeans do Technical Damage?
Grain and livestock futures saw a commodity wide selloff with the “risk off” in outside markets like crude oil and the higher dollar. But did we do technical damage? Bill Biedermann of AgMarket.Net has the answer.
January 03, 2023 02:01 PM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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