Grain and livestock futures close mostly lower on technical selling ahead of the Fed announcement, except old crop corn with more China sales. Soybeans closed below the 200-day moving average, so will that trigger more selling pressure? Are livestock close to bottoming? Don Roose with U.S. Commodities has the answers.
Markets Mostly Lower Ahead of Fed 0.25% Move; Soybeans Close Below 200-Day Moving Average
Markets were mostly lower on Wednesday, except old crop corn, on technical selling ahead of the Fed’s 0.25% hike. Can the markets now start trading fundamentals? Don Roose with U.S. Commodities has the answers.
March 22, 2023 02:40 PM
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.
