Grains higher on corrective buying after the selloff in reaction to the WASDE, but dryness concerns and a lower dollar are supportive. Hogs bounce with China hopes, but cattle are seeing follow-through selling, so was Wednesday a blow off top? Scott Varilek of Kooima Kooima Varilek has the answer.
Grains See Corrective Buying After Bearish WASDE Reaction : Was Yesterday a Blow Off Top in Cattle?
Grains higher on corrective buying after the selloff post-WASDE. Hogs bounce with China hopes, but cattle are seeing follow-through selling, so was Wednesday a blow off top? Scott Varilek of Kooima Kooima Varilek.
July 13, 2023 09:14 AM
Related Stories
Darin Newsom, senior market analyst with Barchart, says the funds set the direction of the trend the problem is they have skewed the markets to the point that the real fundamentals in agriculture don’t really matter.
Mark Schultz of Northstar Commodity, says the corn market may be running out of sellers as the funds have liquidated a big chunk of their long position. However, it is too early to call a bottom with corn harvest still underway.
Greg McBride of Allendale says corn and soybean futures are trying to bounce as they are oversold, the key is what will it take to bottom the markets?
Read Next
Forty-three candidates are running for the House and five for the Senate with backgrounds on apple orchards, dairy farms and cattle ranches.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
