Corn is lower this morning with a more favorable forecast, but is also following mostly lower wheat and both are seeing report positioning. Soybeans are up with a 7.2 mb export sale and higher bean oil. Cattle and hogs try to stabilize after a couple of days of profit taking, but where do they go from here? DuWayne Bosse, Bolt Marketing has more.
Corn, Wheat Mostly Lower on Weather, WASDE, Soybeans Up on Export Sale, Bean Oil: Livestock Bounce After Profit Taking
Corn and wheat mostly lower, on weather, report positioning. Soybeans up with an export sale & higher bean oil. Cattle and hogs try to stabilize after a two days of profit taking. DuWayne Bosse, Bolt Marketing.
June 09, 2023 09:24 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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