Grains fade after a higher open on weather, China soybean export talk and the end of the Black Sea Grain deal. Cattle mixed to start then strengthen after new highs in live cattle on Friday on higher northern cash, but feeders need to take last week’s highs or they may be signaling a top. Kevin Duling of KD Investors has details.
Grains Fade Early Gains Despite Weather, Grain Deal Ending, China Talk: Cattle Strengthen But Fail to Take Out Recent Highs
Grains fade after higher open on weather, China soybean export talk and the end of the Black Sea Grain deal. Cattle firm but fail to take out last week’s highs? Kevin Duling, KD Investors.
July 17, 2023 09:28 AM
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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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