Grain and livestock markets mostly lower except some mixed trade in cattle. Soybeans and corn are seeing profit taking and have worked in the Argentina crop concerns. Cash basis levels on grains are also starting to soften in the country. Nick Tsiolis of Farmer’s Keeper says there is downside risk and provides some marketing advice.
Markets Mostly Lower Early: Corn, Soybeans Consolidating and Cash Basis Softening
Markets mostly lower early with profit taking in corn and beans with Argentina crop concerns dialed in. Cash basis levels on grains are also softening. Nick Tsiolis of Farmer’s Keeper says there is downside risk.
February 22, 2023 09:53 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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