Fund selling continues as corn and beans have broken major support. Wheat is trying to bottom. Cattle back into contract highs with lower corn, higher cash ideas. Tomm Pfitzenmaier of Summit Commodity Brokerage has details.
Fund Selling Continues in Corn and Beans with Wheat Trying to Bottom: Cattle Back Making Some New Highs
Fund selling continues as corn & beans have broken major support. Wheat is trying to bottom. Cattle back into contract highs with lower corn, higher cash ideas. Tomm Pfitzenmaier, Summit Commodity Brokerage.
February 28, 2023 11:42 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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