Grains ended mixed on Friday with soybeans supported by meal and strong demand, while corn and wheat saw technical selling as the risk-off in outside markets like crude oil continued. Livestock rebounded with help from strong cash and cutouts. Arlan Suderman of StoneX has details with Michelle Rook.
Grains Quiet in Holiday Mode; Livestock Supported by Higher Cash and Cutouts
Grain markets end mixed after focusing on recessionary talk and the risk off in outside markets, while livestock rebound with help from strong cash and cutouts.
December 18, 2022 03:05 PM
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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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