Grains mostly higher on weather, anticipation of a bullish report for soybeans and talk of China soybean biz. and that is pulling up corn and wheat. Outside markets are also positive. Cattle continue to be supported on breaks with continue strong cash, with hogs pushed by higher cash and cutouts. Tomm Pfitzenmaier, Summit Commodity Brokerage.
Grains Higher on Weather, Pre-Report, China Biz Talk: Cattle and Hogs Join the Commodity Wide Risk On Rally
Grains higher with risk on outside markets, wx, ideas of a bullish report for beans, talk of China biz. Cattle supported on breaks, with hogs pushed by higher & cutouts. Tomm Pfitzenmaier, Summit Commodity Brokerage.
July 11, 2023 11:46 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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