Grains end quietly mixed to higher still consolidating under Monday’s chart highs and looking for direction from South America’s crop size, weather or the export front. Cattle see profit taking waiting for confirmation of higher cash before moving higher. Hogs see continued profit taking with cutouts still under pressure and fading strong exports. Mike Minor of Professional Ag Marketing has details.
Grains End Quietly Mixed Still Consolidating from Monday’s Highs: Livestock Also See Profit Taking
Grains end quietly mixed to higher still consolidating under Monday’s chart highs and looking for direction. Cattle and hogs also see more profit taking. Mike Minor of Professional Ag Marketing has details.
February 16, 2023 04:07 PM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
