Grains end mixed Friday with corn and soybeans losing early gains and ending lower for the week, but wheat bounces.
Garrett Toay, AgTraderTalk, says it was a quiet day in the markets with some participants absent due to global IT issues.
Corn and soybeans both made news lows and are getting to price levels that Toay thinks are low enough to stimulate demand.
So will that help put a low in the markets?
He says it maybe tough with favorable weather forecasts for the balance of the summer and funds short.
Wheat saw some short covering but higher European prices and concerns about the Black Sea and European crop may have also resulted in some buying.
Wheat prices, however, are starting to stabilize and that could also help support corn and soybeans and help them find a bottom.
Cattle continue to consolidate ahead of the Cattle on Feed Report and steady to lower cash but at a discount to futures.
Hogs were higher on continued corrective buying and higher cutouts but how Toay says a bigger recovery will be difficult.
