Grains are mixed with pre-holiday positioning and short covering in the case of wheat, plus trading weather and poor weekly exports. Cattle see profit taking and hedge pressure after hitting contract highs and watching debt ceiling talks, hogs hit contract lows. DuWayne Bosse of Bolt Marketing has details.
Profit Taking in Grains Ahead of Holiday, Watching Weather, Exports, Debt Ceiling Talks: Cattle Consolidate After New Highs
Grains mixed on pre-holiday positioning, profit taking, weather and poor weekly exports. Cattle see profit taking and hedge pressure after contract highs, hogs make contract lows. DuWayne Bosse, Bolt Marketing.
May 25, 2023 11:25 AM
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
Farmers face potentially thousands in added costs as diesel inventories hit 40-year lows.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
