Grains end mixed with corn and wheat under pressure on profit taking and even some farmer selling, soybeans saw some support from better export inspections and higher soybean meal. Some report positioning was also noted. Cattle were higher with lower corn and higher cash ideas. Michelle Rook gets analysis from Don Roose of U.S. Commodities.
Grains End Mixed on Profit Taking and Report Positioning: Cattle Bounce on Lower Corn and Higher Cash Ideas
Grains end mixed with corn and wheat under pressure on profit taking and report positioning. Cattle higher with lower corn and higher cash ideas. Michelle Rook gets analysis from Don Roose of U.S. Commodities.
October 11, 2022 02:01 PM
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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.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
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