Grains bounce on technical buying with Thursday’s selloff overdone and outside and energy markets rebounding. So, will diesel fuel retest the 2022 highs? Plus, cattle recover with cash steady to $1 but how long will funds defend their long position? Darin Newsom, Sr. Market Analyst with Barchart shares insights.
Grains See Technical Bounce as Outside and Energy Markets Recover: Cattle Rebound on Steady to Higher Cash
Grains bounce on technical buying with Thursday’s selloff overdone and outside and energy markets rebounding. Plus, cattle recover with cash steady to $1. Darin Newsom, Sr. Market Analyst with Barchart shares insights.
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Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
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