Wheat and corn continued to slide on Wednesday with traders buying into the idea that Russia will allow Ukrainian exports to resume and with corn planting picking up that also pressured the market. Soybeans rebounded with a huge hedge fund exiting some positions and some help from China export business, but the action did not negate the key reversal in beans. It was a corrective day in cattle and hogs at well. Jim McCormick of AgMarket.Net discusses the action with Michelle Rook.
Corn and Wheat Continue to Slide Wednesday
Wheat and corn continued to slide on Wednesday with a rebound in soybeans and livestock.
June 01, 2022 02:48 PM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
