Grains turn mixed on weather, export demand and pre-WASDE positioning. Cattle rebound on sharply higher wholesale beef, while deferred hogs fail with lower cash and cutouts. What is the outlook for crude oil? Rich Nelson of Allendale covers it all.
Grains Mixed on Weather, Export News, WASDE Positioning: Cattle Rebound with Higher Beef
Grains mixed on weather, export demand and pre-WASDE positioning. Cattle rebound on sharply higher beef, while deferred hogs fall with lower cash. What is the outlook for crude oil? Rich Nelson of Allendale.
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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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