Livestock seeing fund selling again and spillover from the lower DOW. Light cash cattle trade developing at $248 and $155. Soybeans and products consolidate, with corrective buying in wheat, which is supporting corn. Scott Varilek of Kooima Kooima Varilek has details.
More Fund Selling in Livestock with Lower DOW: Grains Mixed on Technical Buying and Selling
Livestock seeing fund selling again and spillover from the lower DOW. Soybeans and products consolidate, with corrective buying in wheat, corn is following. Scott Varilek of Kooima Kooima Varilek has details.
December 15, 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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