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
Related Stories
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
East-central Iowa field agronomist says misjudging corn growth stage, not herbicide choice, can be the biggest risk in post-emerge passes.
