Corn higher, soybeans lower, wheat mixed to start. There is some spread trade and the market has factored in acres and weather and is now trying to gear up for the next WASDE report which may give us a look at yield and ending stocks. Is the cotton market ready to break out of its sideways pattern? Cattle correct for a second day. Shawn Hackett, Hackett Financial Advisors has more.
Grains Mixed Looking Ahead to WASDE for Direction: When Will Cotton Quit Trading Sideways and Will Cattle Correct More?
Grains mixed on spreads and looking ahead to the WASDE for yield and ending stocks direction. Is the cotton market ready to break out technically? Cattle consolidating. Shawn Hackett, Hackett Financial Advisors.
July 06, 2023 09:13 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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