Markets end mostly lower with risk off fund selling. Soybeans and wheat also weighed on by weather, fast planting, Brazil prices. Corn held chart support but for how long? Cattle consolidating waiting for cash direction, with hogs failing waiting for a cash bottom. Oliver Sloup, Blue Line Futures has details.
Mostly Lower Closes with Risk Off Fund Selling, Weather, Planting Pace, Brazil Prices Weigh on Grains: Cattle Consolidate Ahead of Cash
Markets end mostly lower with risk off fund selling, weather, fast planting, Brazil prices. Cattle consolidating waiting for cash direction, with hogs failing. Oliver Sloup, Blue Line Futures has details.
April 25, 2023 02:15 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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