Grains see massive fund buying in a bull blown weather market and take out major resistance on the charts in the process. How high will price go? Cattle recover despite weaker cash and higher corn, while hogs reverse. Darin Newsom, Barchart.
Massive Fund Buying in Grains With Full-Blown Weather Rally but How High Will Prices Go? Cattle Bounce Despite Weaker Cash and Higher Corn
Grains see massive fund buying in a bull blown weather market. How high will price go? Cattle recover despite weaker cash and higher corn, while hogs reverse. Darin Newsom, Barchart.
June 16, 2023 12:20 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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