Grains continue lower with profit taking and hedge selling with improved rain chances, but corn and wheat exports were also poor. Cattle recovering with lower corn , tight supplies and after holding key chart support Thursday, despite lower cash. Market is awaiting the Cattle on Feed Report. Kevin Duling of KD Investors.
Grains See More Profit Taking on Improved Rain Chances, Poor Corn & Wheat Exports: Cattle Supported by Lower Corn Ahead of COF
Grains continue lower with profit taking and hedge selling with better rain chances. Cattle recovering with lower corn but positioning ahead of the Cattle on Feed Report. Kevin Duling of KD Investors has more.
June 23, 2023 11:30 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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