Corn had an ugly technical day removing weather premium, but is it warranted? Soybeans bounced led by July ahead of first notice day and the quarterly stocks report. Wheat is following corn and seeing poor demand. Cattle bounced with lower corn and fund buying, hogs mixed pre-report. Rich Nelson of Allendale.
Grains End Mixed Trading Weather, Reports, End of Quarter: Cattle Supported by Lower Corn, Hogs Mixed Pre-Report
Corn had an ugly technical day removing weather premium. Soybeans bounced led by July ahead of the report. Wheat follows corn. Cattle bounced with lower corn, fund buying, hogs mixed pre-report. Rich Nelson, Allendale.
June 29, 2023 02:35 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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