Grains still higher with technical buying, putting in war premium. Wheat is leading though on production concerns pushing Jul KC wheat over $9. Livestock cattle are consolidating after the higher week, while funds are covering shorts in hogs with the firmer LHI. DuWayne Bosse of Bolt Marketing has details.
Grains See Fund Buying on Lower Wheat Production and Putting in War Premium: Livestock Higher Except Live Cattle
Grains up as funds put in war premium. Wheat leads on crop concerns with Jul KC over $9. Livestock cattle are consolidating after the higher week, while the higher LHI helps hogs. DuWayne Bosse of Bolt Marketing.
May 15, 2023 11:36 AM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
