Grain and livestock futures saw some 2-sided trade mostly on end of the month positioning, profit taking and spread unwinding. However, corn and soybeans failed to take out chart resistance. Oliver Sloup with Blue Line Futures has analysis.
Grain and Livestock Futures Close Mixed on End of Month Positioning and Profit Taking
Grain and livestock traded 2-sided with end of the month positioning, profit taking & spread unwinding. However, corn & soybeans failed to take out chart resistance. Oliver Sloup, Blue Line Futures has analysis.
January 31, 2023 02:41 PM
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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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