Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Is most of the bearishness already factored into prices? Live cattle chop awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag has more.
Grains Mostly Higher Bouncing Off Lows Ahead of WASDE: Live Cattle Mixed Awaiting Cash, Hogs Higher After Reversal
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
May 10, 2023 11:37 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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