Corn and wheat held gains on corrective buying, but soybeans couldn’t stay above $15 with a pickup in farmer selling and improved weather in Argentina. Live cattle saw some light fund buying, with feeders mixed. Hogs still can’t find a bottom with rising slaughter numbers and soft cash. Brian Grete with Pro Farmer has analysis.
Corn and Wheat See Corrective Buying, but Soybeans Fade Early Gains: Livestock Mixed and Two-Sided
Corn and wheat saw corrective buying, but soybeans couldn’t stay above $15 with farmer selling and improved weather in Argentina. LC saw fund buying, while hogs were lower. Brian Grete, Pro Farmer has details.
January 24, 2023 02:05 PM
Related Stories
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.
Read Next
Goliath, meet David. “It’s way past time for everyone to wake up,” says Fenn Church.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
