Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock were mostly lower except nearby live cattle which were held up by steady cash ideas. Vince Boddicker with Farmers Trading Company has more.
Commodity Wide Fund Selling Hits Grains, Plus China Cancellation, Black Sea Grain Deal, Big Crop
Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock mostly lower except nearby LC, on steady cash ideas. Vince Boddicker, Farmers Trading Company.
May 17, 2023 02:31 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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