Grains are setting back on profit taking and removing weather premium, with lower crude oil prices a drag. Cattle make new highs with higher cash and cutouts and a debt ceiling deal, while hogs are seeing limit up moves on short covering. Kent Beadle with Paradigm Futures has more.
Livestock Higher with Cattle Printing New Highs: Grains Set Back Taking Out Weather Premium and with Risk Off Outside Markets
Grains see profit taking & remove weather premium, with lower crude oil prices. Cattle make new highs on higher, cutouts and a debt ceiling deal, while hogs see short covering. Kent Beadle, Paradigm Futures.
May 30, 2023 05:22 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.
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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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