Grains see a corrective bounce with help from outside markets like the lower dollar, but still digesting the WASDE data and watching weather. Cattle confirm the reversal with follow through selling, but will it dampen cash? Hogs bounce on higher cash and China hopes. DuWayne Bosse, Bolt Marketing has more.
Grains Higher on Technical Bounce, Lower Dollar, Outside Markets & Watching Weather: Cattle Confirm Reversal, While Cutouts Support Hogs
Grains see a corrective bounce with help from outside markets like the lower dollar. Cattle confirm the reversal with follow through selling. Hogs bounce on higher cash. DuWayne Bosse, Bolt Marketing has more.
July 13, 2023 05:23 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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