Grains started higher but turned mixed with short covering in soybeans following soybean oil, while wheat is seeing profit taking and corn is caught in the tug of war in the middle. Livestock continue to hold gains with a risk on outside market environment spilling over and a technical bounce after getting oversold. Michelle Rook visits with DuWayne Bosse of Bolt Marketing.
Livestock Hold Early Gains in Risk on Session: Grains Mixed with Some Corrective Action
Grains have turned mixed with short covering in soybeans, profit taking in wheat and corn caught in the middle. Livestock seeing a short covering bounce. Michelle Rook visits with DuWayne Bosse of Bolt Marketing.
October 03, 2022 11:25 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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