Geopolitical headlines sparked technical buying in grains and crude oil today, including Russia’s oil production cut. New contract highs in soybean meal due to Argentina production concerns and talk of China soybean business also fueled the soybean rally. Will it continue into next week? And what about future Fed rate hikes? Tommy Grisafi of Advance Trading covers all these topics.
SA Crop Concerns, Geopolitical Headlines Drive Rally in Grains: Including Russia’s Oil Production Cut
Geopolitical headlines sparked technical buying in grains and crude oil today, including Russia’s oil production cut. Argentina crop concerns push soybean meal to new highs. Tommy Grisafi of Advance Trading has more.
February 10, 2023 01:55 PM
Related Stories
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
Some of the easier entry points for corn and soybean farmers looking to capture higher returns can deliver $200 or more per acre.
