Grains consolidating as funds are back in selling end of week, Soybean basis levels in Brazil have collapsed and SA weather looks a bit more favorable. Cattle make new highs again pushed by higher cash. Crude oil stalls after 9-weeks highs Thursday. Darin Newsom, Barchart, has details.
Funds Return to Sell Grains with Brazil Basis Hurting Soybeans: Crude Oil Stalls, Cattle Make More Highs
Grains consolidating as funds are back in selling end of week. Cattle make new highs again pushed by higher cash. Crude oil stalls after 9-weeks highs Thursday. Darin Newsom, Barchart, has details.
January 26, 2024 09:29 AM
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Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
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.
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