Grains and live cattle end mostly lower on spec selling on a risk off day tied to the debt ceiling debate and recessionary talk. Sharply lower bean oil, planting pace and profit taking in the wheat were also features. Matt Bennett, AgMarket.Net explains.
Grains Mostly Lower with Spec Selling and Profit Taking on a Risk Off Day; Will Dec Corn Hold $5, Nov Soybeans $12?
Grains and live cattle end mostly lower on spec selling on a risk off day. Sharply lower bean oil, planting pace and profit taking in the wheat were also features. Matt Bennett, AgMarket.Net explains.
May 16, 2023 02:29 PM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
