Grains still mostly higher still pricing in the USDA numbers but wheat is also putting in some weather premium. Old crop corn is seeing pressure on farmer selling and slow export inspections. Live cattle made new contract highs then saw profit taking and hedge pressure, while hogs are seeing some short covering. Kent Beadle of Paradigm Futures has details.
Grains Mostly Higher Pricing in USDA Reports, Weather, Higher Crude Oil: Cattle Seeing Profit Taking and Hedge Pressure
Grains mostly higher pricing in USDA numbers and weather. Old crop corn sees farmer selling, while live cattle made new contract highs then saw profit taking and hedge pressure. Kent Beadle of Paradigm Futures.
April 03, 2023 11:32 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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