Grains start steady to slightly higher but are seeing two-sided trade. USDA Ag Outlook numbers were released but the market seems to be consolidating and looking for direction. Cattle continue to make new highs with strong cutouts and the atypical BSE case in Brazil. Hogs still consolidating. Chuck Shelby of Risk Management Commodities has more.
Grains 2-Sided Early Looking for Direction: Cattle Make New Highs on Atypical BSE Case in Brazil
Grains start steady to higher but turn two-sided looking for direction. Cattle making new highs with the atypical BSE case in Brazil. Hogs consolidating. Chuck Shelby of Risk Management Commodities has more.
February 23, 2023 09:18 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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