A mostly lower start in grain and livestock futures. A risk off day in the outside markets with a higher dollar on better-than-expected Jobs Report spills over into commodity sector. Soybean meal scores contract highs again overnight, Argentina crop conditions improve but extended weather is hot and dry. Allison Thompson of The Money Farm has details.
Early Pressure in Most of the Ag Markets with a Risk Off Day in Outside Markets and Higher Dollar, Argentina Outlook Mixed
A mostly lower start in grain and livestock futures. A risk off day in the outside markets, with a higher dollar, spills over. Argentina conditions are mixed. Allison Thompson of The Money Farm has details.
February 03, 2023 09:03 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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