Soybeans start lower on fund selling, then bounce with corn on China biz and strong cash, wheat sees short covering chasing headlines on Russia’s possible export ban. Where is the financial market headed? Livestock have been beat down on fund selling and demand concerns tied to the economy but are they close to bottoming. Darin Newsom, Sr. Market Analyst with Barchart has the answers.
Soybeans Start Lower on Fund Selling then Bounce With Corn and Wheat on Possible Russia Export Ban: Are Livestock Close to Bottoming?
Soybeans starts lower on fund selling, then follows corn up and wheat on short covering and a possible Russia export ban. Are livestock futures close to bottoming? Darin Newsom, Barchart has details.
March 24, 2023 09:23 AM
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DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
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