Grains end mixed with report positioning and profit taking in soybeans, meal and bean oil. Outside markets were also bearish with the higher dollar and lower crude oil. Live cattle consolidated under new highs awaiting cash with new highs again in feeders. Hogs continue to try to find a bottom. Brian Grete with Pro Farmer has details.
Grains End Mixed with Profit Taking and Report Positioning: Live Cattle Consolidate Await Cash, Deferred Hogs Fail
Grains end mixed with report positioning and profit taking in soybeans, meal and bean oil. Cattle consolidate under new highs awaiting cash. Hogs continue to try to find a bottom. Details w/Brian Grete of Pro Farmer.
March 07, 2023 01:25 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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