Grains still lower with the risk off day, lower crude oil, disappointing exports and rain chances in wheat areas, plus some profit taking and technical selling as we took out support areas. Cattle are trying to rebound with the discount to cash with some sales in NE at 288/183. Hogs back lower with the cash failing to bottom. Vince Boddicker with Farmers Trading Company has more.
Grains Down on Profit Taking in Another Risk Off Day, Weather Weighs on Wheat: Cattle Rebound, But Hogs Down with Cash:
Grains lower w/risk off day, slow exports, rain chances in wheat areas, profit taking. Cattle rebound w/the discount to cash, some sales in NE at 288/183. Hogs down w/cash. Vince Boddicker, Farmers Trading Company
April 20, 2023 11:36 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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