Grains end mostly higher on short covering correcting the oversold market condition and with help from soybean export business. But rallies will be hard to sustain amidst harvest. Cattle recover after the key reversals, hogs near chart breakout levels. Meanwhile, the Fed leaves rates unchanged, for now. Garrett Toay, AgTraderTalk, has details.
Grains Close Mostly Higher on Short Covering, Ahead of Fed Decision: Livestock Also End Strong
Oversold grains end mostly higher with short covering, but rallies are hard to sustain amidst harvest. Cattle recover after key reversals, hogs near chart breakout levels. Garrett Toay, AgTraderTalk, has details.
September 20, 2023 02:36 PM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
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