Corn and wheat under pressure with more fund selling taking out support on demand concerns, but weather and lower crude oil are also factors. However, Russia could be the wild card. Soybeans see a corrective bounce. Cattle and hogs trade 2-sided, but have seen some technical selling watching cash and debt ceiling discussions. Jim McCormick with AgMarket.Net has details.
Corn, Wheat See More Fund Selling, Corrective Bounce in Soybeans: Cattle and Hogs 2-Sided
Corn and wheat under pressure with more fund selling taking out support. Soybeans see a corrective bounce. Cattle and hogs see more technical selling watching cash. Jim McCormick with AgMarket.Net.
April 26, 2023 11:49 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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