Live cattle start higher then consolidate ahead of COF, while corn is pushing feeders back into contract highs. Hogs continue to consolidate despite stronger cash. Grains start off with more fund selling, and corn is getting pulled down by wheat, but soybeans are trying to recover with bean oil. Scott Varilek, with Kooima Kooima Varilek.
Live Cattle 2-Sided Ahead of COF, With Corn Pushing Feeders: Funds Sell in Wheat, Corn and Beans Try to Recover
Live cattle 2-sided ahead of COF, corn pushes feeders higher. Hogs consolidate despite stronger cash. More fund selling in corn and wheat, but soybeans are try to recover. Scott Varilek, Kooima Kooima Varilek.
May 18, 2023 09:37 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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