Grains ended mixed on Friday with corn and beans lower still removing South American weather premium, while wheat saw some short covering. Soybeans and wheat were lower for the week, while corn was nearly flat. Livestock ended higher on Friday with some end of week short covering, but still posted lower weekly closes after disappointing cash. Arlan Suderman of StoneX Group has analysis.
Livestock and Wheat Close Higher Friday on Short Covering: Corn and Beans Lower on Improved SA Weather
Corn and beans lower Friday removing SA weather premium, while wheat saw some short covering. Livestock ended higher on Friday with some end of week short covering. Arlan Suderman of StoneX Group has analysis.
January 20, 2023 01:58 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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