Grains higher except old crop corn. Gains in soybeans, meal and wheat mostly short covering end of quarter and ahead of USDA’s data dump. Corn saw spread unwinding. Live cattle traded 2-sided but ended slightly higher waiting for higher cash, while hogs saw profit taking. John Heinberg of Total Farm Marketing has details.
Grains End Mostly Higher as Beans and Meal Lead on Short Covering: Live Cattle Firm with Profit Taking in Hogs
Gains in beans, meal and wheat mostly short covering end of quarter ahead of USDA’s data dump. Live cattle slightly higher awaiting higher cash, hogs saw profit taking. John Heinberg, Total Farm Marketing has more.
March 28, 2023 02:04 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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