Mixed trade for grains at month-end. January 31, 2023
Bull spreads were in effect again for soybeans. March managed a lighter high close while deferreds were lower. Old crop is now making its third attempt at pricing over 1530. We have exceeded the 12/30 peak of 1537 1/2 and are now eyeing the 1/18 peak for this uptrend at 1548 1/2. This was the second best close of this six month uptrend.
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