Corn and wheat see pressure on weather, report positioning and Black Sea headline fatigue, while soybeans are supported by meal and record China imports provide hope for business. Cattle and hogs see profit taking. That’s after cattle saw record cash in NE at $190/$300. Allison Thompson of The Money Farm has details.
Corn, Wheat Down on Weather, Report Positioning, Soybeans Follow Meal Higher: Cattle See Profit Taking After $190/$300 Cash
Corn & wheat see pressure on weather, report positioning, soybeans supported by meal and China hopes. Cattle and hogs see profit taking, even after record cash in NE at $190/$300. Allison Thompson, The Money Farm.
June 07, 2023 11:25 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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