Grains have all traded 2-sided with fund selling on a lack of bullish news, still searching for lows. Cattle stage impressive rally ahead of COF and cash news, hogs struggle. DuWayne Bosse, Bolt Marketing, has analysis.
Grains 2-Sided Still Probing for Lows: Cattle Rally Pre-COF, While Hogs Struggle
Grains have all traded 2-sided with fund selling on a lack of bullish news, still searching for lows. Cattle stage impressive rally ahead of COF & cash news, hogs struggle. DuWayne Bosse, Bolt Marketing, has analysis.
January 18, 2024 01:26 PM
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Arlan Suderman, Chief Commodities Economist with StoneX says the corn and soybean markets were trading higher yields coming into the report and saw a positive reaction as a result.
Kyle Bumsted of Allendale, Inc. says, “The way we rallied off our lows here on Friday and the bounce we saw here on Monday, it does feel like cattle put in some sort of intermediate low.”
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
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