Grains higher in early trading on continued corrective buying and despite slightly bearish outside markets and a general lack of bullish news. What are the next technical objectives on the charts that must be cleared to continue the rally in grains? Cattle and hogs have both traded 2-sided as processors try to ramp back up and awaiting cash. Kent Beadle, Paradigm Futures. has more.
Grains Continue to Correct Despite a Lack of Bullish News: Livestock Firm with Product Values
Grains higher in early trading on continued corrective buying, despite slightly bearish outside markets. Kent Beadle, Paradigm Futures says the grain markets may have finally run out of sellers.
January 23, 2024 11:14 AM
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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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