Grains close mostly higher with technical buying and putting in weather premium on the forecast and Drought Monitor. Cattle make new highs on sharply higher cash with consolidation in hogs. Chip Nellinger, Blue Reef Agri-Marketing has details.
Grains See Technical Recovery, Put in Weather Premium: Cattle Hit Contract Highs Chasing Sharply Higher Cash
Grains close mostly higher with technical buying and putting in weather premium. Cattle make new highs on sharply higher cash with consolidation in hogs. Chip Nellinger, Blue Reef Agri-Marketing has details.
June 01, 2023 02:43 PM
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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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