Grains slide lower on Friday with more favorable weather and ideas of improving crop conditions but also awaiting supply direction from the WASDE including possible yield cuts. November soybeans closed below the level on the bullish report day. So how concerning is that? Cotton closes higher but the market is still rangebound. Cattle post a strong recovery with lower corn, strong exports and steady to higher cash in the north. Darren Frye, Water Street Solutions has analysis.
Grains Slide Lower on Favorable Weather, Awaiting WASDE and Possible Yield Cuts: Cotton and Cattle End Higher
Grains lower on favorable weather but also awaiting supply direction from the WASDE. Cotton closes higher but is still rangebound. Cattle post a strong recovery with lower corn. Darren Frye, Water Street Solutions.
July 07, 2023 02:23 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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