Row crop futures lower on profit taking and weather initially but now seeing some risk off selling and that is pulling wheat down. That has also eroded early strength in cattle and hogs. Chuck Shelby with Risk Management Commodities has more.
Corn and Beans Down on Profit Taking, Weather to Start but Risk Off in Outside Markets Now Pulling Most Commodities Lower
Corn and beans lower on profit taking & weather initially but seeing risk off selling and that’s pulling wheat down. That has also eroded early gains in livestock. Chuck Shelby, Risk Management Commodities.
April 05, 2023 09:40 AM
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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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