The markets continue to chase headlines driven by recession and demand fears, a big soybean crop in Brazil, plus supply implications of the Black Sea war. Steve Freed of ADM Investor Services joins Michelle Rook to discuss the outlook for grain and livestock prices in 2023.
What’s the Outlook for Ag Prices in 2023?
2023 is around the corner and analysts are already talking about what to expect.
December 18, 2022 03:08 PM
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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
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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