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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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.
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