Grains Lower on Technical Selling, Profit Taking: Hogs Fall with Cash and Cattle See Corrective Bounce with Lower Corn

Grains all lower on more profit taking, technical and farmer selling after the year-end rally. Cattle see a corrective bounce with the drop in corn, while hogs fall with cash. DuWayne Bosse of Bolt Marketing.

Grains all lower at midday with more profit taking, technical selling and farmer selling after the year end rally, lower crude oil is also negative. Cattle higher with the drop in corn, while hogs continue to fall looking for a cash bottom. DuWayne Bosse of Bolt Marketing has more.

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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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