Corn and soybeans mixed with strong cash prices supporting old crop while new crop is under pressure with better weather. Short covering and dry weather support wheat. Cattle making more highs with futures still at a discount to cash, while hogs struggle as cash can’t find a bottom. Mark Schultz of Northstar Commodity has details.
Grains Mostly Higher Except New Crop Corn and Beans: Cattle Continue to Chase Cash with Hogs Looking for a Bottom
Grains higher except new crop corn and beans with better weather. Cattle making more highs with futures still at a discount to cash, while hogs look for a bottom. Mark Schultz of Northstar Commodity has details.
April 12, 2023 11:41 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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