Corn and wheat fade the news of Russia ending the Black Sea Grain deal, seeing some profit taking and farmer selling. Meal, weather and China export talk support soybeans. Cattle continue firm with higher cash ideas and hogs supported by the higher cash index. Kent Beadle, Paradigm Futures has details.
Corn and Wheat Fade Grain Deal News, Soybeans Follow Higher Meal, China Talk: Livestock Supported by Cash
Corn, wheat fade Russia ending the Black Sea Grain deal. Meal, weather & China export talk support soybeans. Cattle firm w/higher cash ideas, hogs supported by higher cash index. Kent Beadle, Paradigm Futures.
July 17, 2023 11:50 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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