Corn and new crop soybeans end higher putting in weather premium but talk of yield loss is premature. Wheat ends mixed, so what’s driving the market? Cattle recover and could retest highs with more record cash prices. Hogs build on the recent rally. While outside markets await Fed announcement. Arlan Suderman with StoneX has more.
Arlan Suderman Says Corn, Beans Rally on Weather But Yield Loss Premature: Cattle Recover and Could Retest Highs if Cash Hits New Records
New crop corn and beans up on weather but Arlan Suderman, StoneX says yield loss talk is premature. Wheat ends mixed. Cattle could retest highs with more record cash and hogs build on the higher weekly closes.
June 12, 2023 02:29 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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