Corn and wheat see end of year profit taking and surging COVID cases in China, while soybeans are higher supported by SA weather. Cattle are up with lower corn and weather supportive, while hogs also see profit taking. Randy Martinson of Martinson Ag has details.
Grains Mostly Lower Except Soybeans, Livestock Mixed: on End of Year Positioning. Weather, China COVID Cases
Corn, wheat see EOY profit taking on China COVID #s, soybeans up on SA weather. Cattle higher with lower corn & weather supportive, while hogs also see profit taking. Randy Martinson of Martinson Ag has details.
December 29, 2022 08:58 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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