Grains are mixed with corn under pressure on fund selling and the China corn export cancellation, soybeans seeing strong cash and forward spreads supportive, with frost and cold weather supporting KC and MN wheat. Cattle set back on the bearish COF, with hogs up on short covering and spread unwinding. Michelle Rook has the early summary.
Corn Lower After China Cancellation, Strong Cash Supports Soybeans: Cattle Lower on Bearish COF Placements
More fund selling in corn w/the China cancellation, strong cash and spreads support beans, with wheat trading weather. Cattle set back on the bearish COF, hogs up on short covering. Michelle Rook has details.
April 24, 2023 09:41 AM
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.
