After a choppy session, grains end higher on weather forecast, Drought Monitor, WASDE positioning, the rally in soybean oil and technical buying in wheat. Cattle ended lower but did we confirm the key reversals and a top? Hogs continue to consolidate after the recent recovery with the lack of new buying and a bullish story. Dave Chatterton of Strategic Farm Marketing has analysis.
Grains End Higher on Weather Forecast, Drought Monitor, WASDE Positioning: Cattle End Lower But Rally May Not be Over
Grains end higher on weather forecast, Drought Monitor, WASDE positioning. Cattle markets lower but did we confirm a top? Hogs consolidate after the recent recovery. Dave Chatterton, Strategic Farm Marketing.
June 08, 2023 02:25 PM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
