Grains see light selling with a slight improvement in weather, profit taking and hedge selling after getting above key resistance. Cattle consolidate awaiting cash, hogs gap higher with higher cash and anticipating evidence of liquidation in the hogs and pigs report. Randy Martinson, Martinson Ag has details.
Grains See Profit Taking, Hedge Selling, Slightly Better Rain Chances: Cattle Consolidate, Hogs Follow Cash Higher
Grains see light selling with a slight improvement in weather, profit taking and hedge selling after breaking resistance. Cattle consolidate, hogs gap higher pushed by cash. Randy Martinson, Martinson Ag has details.
June 20, 2023 11:37 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.
