Markets continue lower except cattle at midday. Corrective selling and lower crude oil pressuring corn and beans as well as the sharply lower wheat market with moisture in HRW areas. Cattle continue to see support from higher cash, cutouts, weather and lower corn. Hogs down with a drop in the cutouts. Randy Martinson of Martinson Ag has details.
Grains Lower on Profit Taking, Moisture in HRW Areas, Drop in Crude Oil: Cattle Extend Gains on Strong Fundamentals
Corn & soybeans down on corrective selling, plus lower CO and wheat with moisture in HRW areas. Cattle extend gains on strong fundamentals, lower cutouts weigh on hogs. Randy Martinson of Martinson Ag has more.
February 22, 2023 11:32 AM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
