Grains lower seeing poor exports, the higher dollar, harvest pressure and concerns about South American competition causing fund selling, with soybeans breaking support. Cattle are mixed despite $1 better cash trade, while hogs are seeing follow through corrective buying and stronger cutouts supportive. Michelle Rook is joined by Mark Schultz of Northstar Commodity.
Grain Lower with Poor Exports, Higher Dollar, Harvest Pressure Causing Fund Selling: Cattle Mixed Despite Higher Cash, Hogs Strong
Grains lower with poor exports, the higher dollar and harvest pressure. Cattle are mixed despite $1 better cash trade, while hogs are higher. Michelle Rook is joined by Mark Schultz of Northstar Commodity.
October 06, 2022 11:24 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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