Grains have all traded 2-sided with fund selling on a lack of bullish news, still searching for lows. Cattle stage impressive rally ahead of COF and cash news, hogs struggle. DuWayne Bosse, Bolt Marketing, has analysis.
Grains 2-Sided Still Probing for Lows: Cattle Rally Pre-COF, While Hogs Struggle
Grains have all traded 2-sided with fund selling on a lack of bullish news, still searching for lows. Cattle stage impressive rally ahead of COF & cash news, hogs struggle. DuWayne Bosse, Bolt Marketing, has analysis.
January 18, 2024 01:26 PM
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Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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