Corn and wheat crack new lows while soybeans struggle to hold gains with more fund selling and high stocks to use ratios. What will it take to turn these markets around? Cattle supported by higher beef going into the COF but awaiting cash. Interest rate rhetoric continues to ping pong so what does it mean for the outside markets? Darin Newsom, Barchart Sr. Market Analyst, has answers.
Funds Press Corn and Wheat Early, Soybeans 2-Sided: Cattle Follow Higher Beef
Corn & wheat see more fund selling, beans struggle to bounce. What will turn these markets around? Cattle up with beef, COF, await cash. Interest rate talk hits outside markets. Darin Newsom, Barchart, has more.
January 18, 2024 10:07 AM
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November soybeans failed to close above the key $12 level and Naomi Blohm of Total Farm Marketing thinks the market may be running out of runway as Monday was mostly technical buying.
Joe Kooima of Kooima Kooima Varilek says funds continue to pressure the cattle futures and he anticipates that will continue after last week’s lower weekly closes.
Allison Thompson with The Money Farm says the failure was likely position squaring heading into the three day holiday plus markets ran into chart resistance and saw some profit taking.
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