Corn and soybeans see profit taking Friday after hitting chart resistance, plus see a pickup in farmer selling. However, they post higher weekly closes and could build on that next week. SRW wheat up on China biz. Crude oil and cotton rally on Middle East conflict. Cattle consolidate. Darren Frye, Water Street Solutions, has the recap.
Corn and Soybeans Lower on Profit Taking but Post Higher Week: Crude Oil, Cotton Higher on Middle East Conflict
Corn and soybeans, even cattle see profit taking Friday. SRW wheat up on China biz. Crude oil and cotton rally on Middle East conflict. Darren Frye, Water Street Solutions, has the recap.
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Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
Scott Varilek with Kooima Kooima Varilek says the live cattle were overbought after rallying $21 off the lows.
Sam Hudson of Cornbelt Marketing says soybeans bounced as harvest pressure is subsiding and that should allow a bottom to be forged, especially with China buying.
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