Grains ended higher on pre-holiday fund buying, pushed by dryness/drought concerns & the bean oil rally. Corn and beans closed above key chart areas so how much higher will prices go? Live cattle rebounded after holding support and in the face of weaker cash, while hogs ended mostly higher. Garrett Toay of AgTraderTalk has more.
Grains Rally as Funds Buy on Drought Concerns, BO Rally: Live Cattle Recover Despite Weaker Cash
Grains rallied on pre-holiday fund buying, drought concerns & the BO rally. Corn and beans closed above key chart areas. Live cattle rebounded despite weaker cash, hogs mostly higher. Garrett Toay of AgTraderTalk.
June 15, 2023 03:10 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.
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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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