Corn and soybeans mixed with bull spreading, WASDE positioning, exports and weather in play. Wheat sees short covering pricing in global supply concerns. Did cattle top yesterday with the key reversals despite record cash? Hogs consolidating after the recent correction. Rich Nelson, Allendale has details.
Corn, Beans Mixed with Bull Spreading on Wx, WASDE, Exports: Cattle Consolidate Further But is it Topping Action?
Corn beans mixed w/bull spreading, WASDE positioning, exports & weather in play. Short covering in wheat w/global supply concerns. Did cattle top w/the key reversals? Hogs consolidating. Rich Nelson, Allendale.
June 08, 2023 11:38 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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