Grains continue lower with plenty of bearish news including fast planting, China corn cancellations, WASDE positioning and risk off outside markets. Live cattle are mixed awaiting cash, while hogs are also mixed trying to recover. DuWayne Bosse, Bolt Marketing has details.
Grains Pressured by Fast Planting, WASDE, China Cancellation, Outside Markets: Cattle and Hogs Mixed on Consolidation
Grains lower on fast planting, China corn cancellations, WASDE positioning, risk off outside markets. Live cattle mixed awaiting cash, while hogs are consolidating. DuWayne Bosse, Bolt Marketing has details.
May 09, 2023 11:33 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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