Most markets are higher at midday except soybeans with some end of week short covering in livestock, a change in weather supporting wheat, but soybeans are still removing Argentina weather premium. Shawn Hackett of Hackett Financial Advisors talks about all that....plus China’s rebound in demand coming out of COVID and what that means for crude oil, nat gas and ag commodities.
Markets Lean Higher Midday Except Soybeans: Are Markets Trading China Demand Post-COVID Yet?
Soybeans lower but wheat higher as both trade weather, corn is rangebound. Livestock see a short covering bounce. Shawn Hackett of Hackett Financial Advisors also talks about the market impact of China post-COVID.
January 20, 2023 11:42 AM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
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