Corn and wheat seeing some end of year profit taking and with COVID cases surging in China, while soybeans are still holding some SA weather premium. Cattle are also supported by weather, with profit taking in the hogs. Chuck Shelby of Risk Management Commodities explains.
Grain and Livestock Futures Mixed: EOY Profit Taking, China COVID Cases, Weather Drive Markets
Corn and wheat seeing some end of year profit taking, while soybeans are building SA weather premium. Cattle are also supported by weather, profit taking in the hogs. Chuck Shelby of Risk Management Commodities.
December 29, 2022 12:31 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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