Grains lean higher except wheat, which faded the Russia export news. Old crop corn and soybeans continue to recover from the recent losses and corn demand has improved, but those markets are running into chart resistance and further buying depends on the reports. Cattle continue to look strong, but why do funds keep pushing the short side of the hogs? Ted Seifried with Zaner Ag Hedge has the answers and a preview of USDA reports!
Corn and Soybeans Continue Recovery on Fund Buying and Improved Demand, Wheat Fades Russia Export News: Livestock Mixed
Grains higher except wheat, fading Russia export news. Old crop corn & beans recovering on demand but further buying depends on the reports. Cattle look strong, but funds sell hogs. Ted Seifried, Zaner Ag Hedge
March 29, 2023 03:32 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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