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New highs S&P, new lows S&C #Soybeans & #Corn #oatt Wake me up when ESu24 trades back @ 5360 [Sell]
Wild day across the world with one of the biggest equity sell-offs in history. Equities got smoked. Stock market fell hard. Cattle sold off. Japan's stock market collapsed. Yet, grains showed resilience. Grains panicked early with the rest of the markets, but rallied off the… https://t.co/XJ8qaRFF5Q
Back to back double digit days for #soybeans Today's price action was very friendly. We rallied +30 cents off our lows taking out the last 3 sessions highs. A break above $10.45 would look friendly. If the market shrugs off crop conditions, the chart looks like we could higher.… https://t.co/1JQERc42Eo
Agricultural futures showed resilience amid a turbulent week for global markets, with grains leading the way. On Friday, corn prices closed above the key level of $4.05, marking the first time in two weeks that it surpassed the previous day's high. The market saw a rally of 11 cents off early lows, indicating positive momentum. Soybeans also experienced a notable increase, rallying 30 cents off lows and breaking above the previous three session highs. Wheat prices rose by 20 cents, contributing to the overall strength in the grains sector. Despite significant sell-offs in equities and cattle markets, grains demonstrated a capacity to recover, with funds reportedly holding record short positions in soybean oil. The upcoming WASDE report and CPI data are anticipated to influence market dynamics in the week ahead.