Grains start higher then turn mixed watching weather, outside markets like crude oil and squaring ahead of the WASDE. However, what are cash basis levels doing on grain? Cattle break to new highs again still chasing cash and maybe a hedging opportunity. Nick Tsiolis, Farmer’s Keeper has more.
Grains Turn Mixed Trading Weather, Outside Markets, WASDE Positioning: What are Cash Basis Levels Doing?
Grains start higher then turn mixed watching weather, the $, crude oil and squaring ahead of the WASDE. However, what are cash basis levels doing on grain? Cattle make new highs. Nick Tsiolis, Farmer’s Keeper.
June 05, 2023 09:20 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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