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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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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