Grains were lower with wheat leading the slide as moisture hits HRW areas and profit taking hitting corn and soybeans. It was also a risk off day with the slide in crude oil. Cattle ended mostly higher with strong cash and cutouts and weather supportive. Hogs set back on profit taking and the sharply lower cutouts Tuesday. DuWayne Bosse of Bolt Marketing has details.
Grains End Lower with Profit Taking, Moisture in HRW Areas: Bullish Fundamentals Support Cattle, Hogs Follow Lower Cutouts
Wheat sharply lower with moisture in HRW areas, profit taking hit corn and soybeans. Cattle ended mostly higher on bullish fundamentals. Hogs follow lower cutouts. DuWayne Bosse of Bolt Marketing has details.
February 22, 2023 02:23 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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