Corn and soybeans lower early with profit taking and slow exports, while wheat is trying to hold weather premium. Livestock seeing profit taking to start after the big up day Wednesday and new contract highs in live cattle, plus beef exports were poor. However, feeders and hogs rebound with EOY and report positioning. Michelle Rook breaks it down.
Grain and Livestock Futures Mixed: EOY Profit Taking and Disappointing Exports
Grains mixed with profit taking and slow exports weighing on row crops, wheat supported by weather. Livestock open lower then turn mixed with holiday, EOY and report positioning. Michelle Rook breaks it down.
December 22, 2022 09:36 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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