Grains mixed with profit taking in wheat, while new contract highs in soybean meal supporting soybeans and corn is following. Cattle see follow through strength after higher cash, with hogs trying to follow but will the rally hold? Allison Thompson of The Money Farm has the answers.
Profit Taking in Wheat, but Contract Highs in Meal Support Soybeans, Corn Follows: Livestock Firm with Higher Cash Cattle
Grains mixed with profit taking in wheat, contract highs in meal supporting soybeans and corn is following. Cattle see strength after higher cash, with hogs firm . Allison Thompson of The Money Farm has more.
February 13, 2023 08:55 AM
Related Stories
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.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
