Grains are trading weather, but how much weather premium do corn and soybeans need to put in? And is the wheat market taking too much premium out? Cattle trade higher on tight supplies and higher cash at $171 in the south. Steve Freed with ADM Investor Services has more.
Corn and Soybeans Add Weather Premium, Wheat Takes it Out: Cattle Up with Higher Cash and Tight Supplies
Grains trade weather, but how much premium do corn and soybeans need to put in? And is the wheat market taking too much premium out? Cattle trade higher on tight supplies and higher cash. Steve Freed ADMIS.
May 24, 2023 11:59 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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