Grains ended mostly higher on Friday positioning ahead of the holiday with July beans making a new contract high and scoring the highest weekly close on record on continued strong demand. Markets are still watching weather and planting progress, plus world events. Livestock futures ended mostly lower in the nearby contracts, although posting higher weekly closes. Michelle Rook talks to Alan Brugler of Brugler Marketing for analysis.
Grains Higher Livestock Leaning Lower Entering the Holiday
Grains ended mostly higher on Friday positioning ahead of the holiday.
May 27, 2022 05:04 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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