Grains close lower Friday and for the week with fund and technical selling. What triggered it and will it continue into next week? And what’s with the strong May/July inverse that is supporting old crop corn and beans? Where does crude oil go now that it filled the chart gap and closed lower for the week? And will cattle continue to be a bull market? Darin Newsom, Sr. Market Analyst for Barchart covers it all!
Grains End Lower for Week, Will Fund Selling Continue to Pressure the Markets? Crude Oil Fills the Chart Gap But Now What?
Grains close lower Friday on fund selling. What triggered it and will it continue next week? Where does crude oil go after filling the chart gap? Will cattle continue to be a bull market? Darin Newsom, Barchart.
April 21, 2023 02:05 PM
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
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Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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