Grains continue to see pressure on more favorable weather, technical selling after hitting resistance and wheat struggles following corn and beans and as EU prices tumble. Cattle continue to correct ahead of cash and with spread unwinding with hogs. Allison Thompson of The Money Farm has more.
Grains Lower on Technical Selling, Weather: Cattle Continue to Correct
Grains see pressure on weather, technical selling after hitting resistance and wheat struggles as EU prices tumble. Cattle continue to correct, with spread unwinding with hogs. Allison Thompson, The Money Farm.
June 14, 2023 11:28 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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