Grains end higher on Friday and for the week. Is the market confirming a bottom? What could fundamentally change that trend? Cattle are lower for the week, but is there a bigger correction ahead? Hogs slide with increased sow liquidation. John Payne of Hedge Point Global Markets wraps up the week.
Grains Close Higher With Possible Bottom, While Livestock Post a Lower Week
Grains end higher Friday and for the week. Is the market confirming a bottom? A lower week for cattle on consolidation and hogs slide on sow liquidation. John Payne, Hedge Point Global Markets, shares insights.
May 05, 2023 02:26 PM
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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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