Grain and livestock futures are all down in a commodity wide selloff with the risk off day in the outside markets. However, there is still optimism ahead for markets like soybeans and especially cattle. Scott Varilek of Kooima Kooima Varilek explains.
Markets Down with the Commodity Wide Selloff, Risk Off in Outside Markets: Outlook for 2023 Optimistic for Markets Like Cattle
Markets are all down in a commodity wide selloff, with the risk off in outside markets. However, there’s still optimism ahead for markets like soybeans and cattle. Scott Varilek, Kooima Kooima Varilek explains.
January 03, 2023 11:40 AM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
