Cattle extend gains in step with a higher stock market and correcting its oversold status but cautious ahead of the COF. Hogs see profit taking and spreading against cattle. Profit taking in soybeans, but corn tries to extend gains with higher wheat and Mexican export biz. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle Continue to Consolidate Pushed by Equities, Hogs Retreat: Soybeans See Profit Taking, Corn Extends Gains
Cattle oversold, following higher equities but cautious ahead of COF. Hogs see profit taking and so do soybeans. Corn higher with wheat and Mexican export biz. Brad Kooima, Kooima Kooima Varilek, has more.
November 14, 2023 09:26 AM
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Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
Mark Schultz of North Star Commodity says the grain markets are oversold and due for a correction.
Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
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