Grains end sharply lower despite the lowest crop ratings on corn and beans since 1988. Funds took profits with rain in the forecast, end of quarter and USDA reports coming up. Cattle had a nice bounce with the selloff in corn, but has the market finished its correction? And are hogs near a top after the big rally? Alan Brugler, Brugler Marketing has analysis.
Grains Sharply Lower on Rain Chances, Report & EOQ Profit Taking: Cattle Bounce with Lower Corn
Grains end sharply lower as funds took profits on possible rain, end of quarter and USDA reports. Cattle bounced but has the market finished its correction and are hogs near a top? Alan Brugler, Brugler Marketing.
June 27, 2023 02:40 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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