Row crop prices put in weather premium with the hot dry weather, while rains the Southern Plains weigh on the wheat and cotton. Cattle consolidate but are watching weather, cash and corn. Hogs try to bounce off contract lows but face headwinds including the lack of China demand. John Payne, Hedge Point Global Markets has more.
Grains and Cotton Trade Weather: Cattle Consolidate Watching Corn and Cash
Corn and beans trade hot dry weather, while rains the So. Plains weigh on the wheat and cotton. Cattle consolidate watching weather, cash and corn. Hogs try to bounce, John Payne, Hedge Point Global Markets.
May 24, 2023 09:13 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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