Grains ended mostly lower with some speculative profit taking, working in SA weather, precip in HRW areas and outside markets influence. Cattle saw a healthy correction awaiting cash news, while hogs were supported by ASF news and the bottoming cash market. Garrett Toay of AgTradeTalk has analysis.
Grains Lower on Profit Taking, Keeping an Eye on SA and U.S. Weather: Cattle Consolidate While Cash, ASF Supports Hogs
Grains ended mostly lower with profit taking, with an eye on weather and outside markets. Cattle consolidate, while hogs were supported by ASF news and bottoming cash. Garrett Toay of AgTradeTalk has analysis.
February 14, 2023 02:06 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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