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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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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