Markets closed mostly higher Friday except feeders. The short covering rally in grains was led by wheat with conflicting reports of a Russia wheat ban, but more China sales supported corn. The question is are the funds done liquidating in soybeans? Live cattle and hogs also saw a technical bounce. Tomm Pfitzenmaier of Summit Commodity Brokerage has details.
Markets Close Mostly Higher on Short Covering: Rally in Grains Led by Wheat With Conflicting Reports of Russia Export Ban
Wheat led a short covering rally in grains w/conflicting news of a Russia wheat ban. More China biz helped corn. But are funds done selling soybeans? LC saw a technical bounce. Tomm Pfitzenmaier, Summit Commodity.
March 24, 2023 02:33 PM
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