Grains end lower with fund selling and profit taking on better rain chances and risk off. So are corn and beans topping? Wheat ends higher for the week so what’s brewing? What’s the next move for cattle? Hogs post a lower weekly close, so is that market topping? Mike Zuzulo, Global Commodity Analytics has the answers.
Are Tops in After Grains End Lower on Profit Taking, Better Rain Chances?: Livestock Mixed
Grains lower w/fund selling/profit taking on better rain chances, risk off. But yet wheat is up for the week. What’s the next move for cattle? Is the hog market topping? Mike Zuzulo, Global Commodity Analytics.
June 23, 2023 03:59 PM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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