Grains continue in the red with more fund selling and another China corn cancellation. July corn taking out $6, new lows in wheat. Cattle trade two sided still consolidating with sketchy cash news. Can hogs build on Wednesday’s strong close? Scott Varilek with Kooima Kooima Varilek has details.
More Red in the Grains with Another China Cancellation: Livestock Trade 2-Sided with Cash Cattle News Sketchy
Grains in the red with more fund selling and a China corn cancellation. Cattle trade 2-sided still consolidating with sketchy cash news. Can hogs build on Wed. strong close? Scott Varilek, Kooima Kooima Varilek
April 27, 2023 09:20 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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