Grains have had an ugly week. Soybeans are seeing some corrective buying after holding support and with higher meal. Wheat is trying to consolidate but more pressure in corn with demand concerns and after taking out chart areas. Cattle trade 2-sided with a lack of cash news and watching economic reports. Allison Thompson with The Money Farm has analysis.
Grains Mixed Trying to Consolidate After an Ugly Week: Cattle 2-Sided with Lack of Cash Direction
Grains have had an ugly week. Soybeans are seeing some corrective buying, wheat is trying to consolidate but more fund selling in corn. Cattle trade 2-sided on a lack of cash news. Allison Thompson, The Money Farm.
April 28, 2023 09:07 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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