Grains are mostly lower as markets consolidate after corn and beans hit chart resistance yesterday, a lack of fresh bullish news and USDA’s Ag Outlook numbers showing higher acres and lower price projections. Live cattle make more contract highs on the atypical BSE case in Brazil, hogs still plagued by increasing numbers. Jeff Hoogendoorn of Professional Ag Marketing has more.
Grains Mostly Lower Consolidating on Lack of Fresh News, USDA Projections: Higher Cattle with Atypical BSE Case in Brazil
Grains mostly lower with consolidation, a lack of fresh bullish news, USDA’s Ag Outlook numbers. Live cattle hit contract highs on the atypical BSE case. Jeff Hoogendoorn of Professional Ag Marketing has more.
February 23, 2023 11:35 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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