Corn and wheat closed mostly higher with technical buying, despite the higher dollar. However, soybeans saw harvest pressure and the lower meal market a drag, along with the lack of weather issues during South American planting. Livestock closed higher with a corrective bounce but will there be any follow through buying? Michelle Rook talks to Shawn Hackett of Hackett Financial Advisors.
Grains Close Mostly Higher Except Soybeans Despite Dollar Strength: Corrective Buying in Livestock
Corn and wheat closed mostly higher on technical buying, with harvest pressure in soybeans. Livestock closed higher with a corrective bounce. Michelle Rook talks to Shawn Hackett of Hackett Financial Advisors.
October 05, 2022 03:50 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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