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 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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