Grains continue in the red with more fund selling and another China corn cancellation. July corn taking out $6, new lows in wheat. Cattle futures two sided still consolidating with limited cash news. Can hogs build on Wednesday’s strong close? Scott Varilek with Kooima Kooima Varilek has details.
Grains in the Red Again with Technical Selling, China Cancels Corn: Cattle Consolidate with Limited Cash News
Grains see more fund selling, on weather, China corn cancellation. Cattle futures consolidated with limited cash news. Can hogs build on Wed. strong close? More with Scott Varilek, Kooima Kooima Varilek.
April 27, 2023 09:25 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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