Grain and livestock markets are mostly lower except soybeans. Fund selling continues in corn and wheat, with risk off including lower crude oil and bearish weather. Soybeans holding up better despite that. Cattle and hogs are seeing some consolidation with a higher dollar. Cattle should be well supported with the futures discount to the cash, while hogs are waiting for cash and cutouts to catch up. Mike Minor of Professional Ag Marketing has details.
Grain and Livestock Markets Mostly Lower with Risk Off Fund Selling, Weather: Livestock Futures Eye Cash and Product Values
Fund selling continues in corn and wheat, with risk off including lower crude oil and bearish weather. Cattle and hogs consolidate with a higher dollar. Mike Minor, Professional Ag Marketing has details.
May 01, 2023 11:32 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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