A mostly lower day except old crop soybeans and meal with some commodity wide selling. Profit taking in hogs and cattle despite record highs on fed and live futures as well as northern cash ($190/$300). Weather was a little more bearish for row crops with some rain and cooler temps in the extended and less rain in HRW areas for harvest. Jeff Hoogendoorn with Professional Ag Marketing joins us from World Pork Expo.
Markets Mostly Lower with Profit Taking in Hogs & Cattle Despite Record Highs in Cash: Grains Trade Weather
Markets mostly lower on commodity wide selling. Profit taking in hogs and cattle, despite record highs in cattle futures and No. cash. Grains also traded weather. Jeff Hoogendoorn, Professional Ag Marketing.
June 07, 2023 02:21 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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