Funds sell in corn and wheat with poor exports, soybeans rebound following meal with a lower Argentina estimate, but are we also seeing report positioning? Cattle rebound despite lower cash, while hogs fail possibly on the Prop 12 decision. Darin Newsom with Barchart has more.
Funds Sell in Corn and Wheat, Soybeans Bounce Following Meal: Cattle Higher Despite a Soft Cash, Hogs Fail on Prop 12 News
Funds sell in corn & wheat on poor exports, soybeans bounce with meal & a cut in Argentina, but is this also report positioning? Cattle rebound despite lower cash, hogs fail on Prop 12 news? Darin Newsom, Barchart.
May 11, 2023 11:30 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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