Grains see some early strength with soybeans building on the strong close over $15 yesterday and higher meal prices, exports were also supportive of the grains. Cattle futures continue to show bullish optimism in the deferreds, but cash will be important for the nearbys. April lean hogs should find support around $80. That’s according to John Payne of Hedge Point Global Markets.
Grains Higher with Export News and Technical Buying with Soybeans Above $15: Livestock Under Pressure with Profit Taking in Cattle
Grains and cotton higher with technical buying and supportive export news. Cattle seeing profit taking awaiting cash. Hogs also lower. John Payne of Hedge Point Global Markets.
January 26, 2023 09:01 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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