Fund buying has corn and soybeans up with SA crop concerns and meal making contract highs, but both have hit chart resistance. Wheat is following row crops but still putting in war premium with Russia’s concerns about the Black Sea Export Initiative. Live cattle make contract highs with higher cash. Randy Martinson of Martinson Ag has more.
Grains All Higher with SA Crop Concerns, Higher Meal, Black Sea Export Uncertainty: Live Cattle Make Contract Highs Again
Corn, beans up with SA concerns & meal into contract highs, but both hit chart resistance. Wheat following, putting in war premium. Live cattle hit contract highs with higher cash. Randy Martinson of Martinson Ag.
February 13, 2023 11:39 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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