Grains open slightly lower on follow through selling then turn mixed, digesting export news and watching weather. However, all the grain markets are consolidating under Monday’s highs. So are the seasonal highs in? Rich Nelson of Allendale has the answer, plus cattle are mixed awaiting cash direction. However, hogs are under pressure with lower cutouts and fading a strong weekly export figure.
Grains Mixed Still Consolidating Under Monday’s Highs: Cattle Mixed Awaiting Cash, Hogs Lower with Softer Cutouts
Grains open slightly lower then turn mixed digesting export news and weather. Markets continue to consolidate, so are seasonal highs in? Rich Nelson of Allendale has the answer and a look at livestock.
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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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