Corn and soybeans higher with bull spreads working on tight cash supplies and China export biz. But what are the mixed signals we’re seeing with national cash basis? Wheat slumps on poor exports. Meanwhile crude oil has had a chart breakout, which is also pushing the dollar lower. And the red-hot cattle/beef market shows no signs of a top. Darin Newsom, Sr. Market Analyst with Barchart tackles it all!
Corn and Soybeans See Bull Spreading with China Biz and Strong Cash: Crude Oil Has a Chart Breakout, While Cattle are Red Hot!
Corn and Soybeans See Bull Spreading with China Biz and Tight Cash Markets. Crude Oil Has a Chart Breakout, While Cattle are Red Hot!
April 13, 2023 09:24 AM
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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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