Grains close mixed Friday with profit taking and Argentina rain weighing on soybeans, but all the grains posted higher weekly closes. Cattle ended higher on Friday with $156 cash in the South and were up for the week. Hogs ended mixed on Friday on bear spreading but back months built on Thursday’s reversals. Randy Martinson of Martinson Ag has more.
Grains End Mixed Friday but Were Higher for the Week: Cattle Closed Higher with $156 Southern Cash
Grains close mixed Friday. Profit taking & Argentina rain weigh on soybeans, but all the grains had higher weekly closes. Cattle were up on $156 southern cash. Randy Martinson, Martinson Ag has more.
January 27, 2023 02:15 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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