Grains rallied after several bullish surprises in the USDA report numbers with soybeans back above $15 but it the news enough to keep the markets moving higher? Meanwhile, livestock set back in response to higher corn and in the case of hogs, lower cash. DuWayne Bosse with Bolt Marketing has details.
Grains Rally After Bullish Surprises in USDA Reports: Will the Market Keep Going?
Grains rallied after several bullish surprises in the USDA report numbers but it the news enough to keep the markets moving higher? Livestock set back in response. DuWayne Bosse with Bolt Marketing has details.
January 12, 2023 02:24 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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