Bottom Line analysts say the initial spike in crude oil has run its course for the most part in their view, but it will have a long tail, as they say. Prices stabilizing near $100, with a very slow decline.
Countries and governments making alternative plans. Grains have followed higher from a distance. Really no news on their own to warrant such an increase, especially soybeans.
Yesterday’s crop report, really a non-factor. Livestock futures already toppy. Higher gas prices through the spring and likely summer will tighten consumer spending even more.
Gold and silver are testing major 200-day moving averages.
Audio Reporting by Mark Oppold for Southeast AgNet.
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