Grains continue to see a technical bounce putting in weather premium but it could be volatile ahead. Cattle back into contract highs with higher cash bids being passed and higher boxed beef, while hogs are consolidating. Darren Frye, Water Street Solutions has details.
Grains See Technical Bounce Trading Weather: Cattle Break to New Highs With Rising Cash Bids
Grains see technical bounce putting in weather premium. Cattle back into contract highs with higher cash bids being passed, while hogs are consolidating. Darren Frye, Water Street Solutions has details.
June 01, 2023 11:41 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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