Grains are higher on fund buying and putting in weather premium on dry forecasts, drop in crop ratings, but soy products are also pushing soybeans. Cattle consolidate with higher corn, hogs mixed. Tomm Pfitzenmaier, Summit Commodity Brokerage has more.
Funds Buy and Push Grains Higher Trading Weather, Crop Ratings, Rally in Soy Products: Cattle Consolidate with Higher Corn
Grains up on fund buying, putting in weather premium w/drop in crop ratings, but soy products are also pushing beans. Cattle consolidate w/higher corn, hogs mixed. Tomm Pfitzenmaier, Summit Commodity Brokerage.
June 13, 2023 11:46 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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