Grain markets end lower as profit taking sets in with weather, outside markets and export demand still factors. Yet grains still rangebound. Livestock also consolidate as cattle wait for cash direction. Cash cattle trade developing after the close at $254 in the north, up $4. Chuck Shelby with Risk Management Commodities has more.
Profit Taking Hits Grains, Yet Still Rangebound: Livestock Also Consolidate with Higher Cash Cattle After the Close
Grains end lower as profit taking sets in with weather, CO and exports factors. Yet grains still rangebound. Livestock consolidate as cattle await cash. Chuck Shelby with Risk Management Commodities has more.
February 09, 2023 03:51 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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