Grain mixed early with soybeans setting back despite new highs in meal again. So is the market losing momentum? Corn basis strongest in 20 years so what does that mean for marketing? Cotton and cattle higher. Darin Newsome, Sr. Market Analyst for Barchart has details.
Grains Mixed with Soybean Setting Back Despite New Highs in Meal: Cattle and Cotton Higher
Grain mixed early with soybeans down despite new highs in meal again. Corn basis strongest in 20 years so what does that mean for marketing? Cotton and cattle higher. Darin Newsome, Barchart Sr. Market Analyst
December 09, 2022 09:06 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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