Grains continue lower on profit taking and risk off in outside markets with crude oil lower and the higher dollar. Plus, the markets may have worked in most of the SA crop concerns. Live cattle consolidating but higher cash could pull the market back higher, while hogs are seeing some profit taking with the futures premium to the LHI. Vince Boddicker of Farmers Trading Company has more.
Risk Off Day in Outside Markets Pulls Grains and Livestock Mostly Lower: Profit Taking Also a Feature
A risk off day in outside markets has led to profit taking in grains and much of the livestock complex. Plus, SA crop concerns largely dialed in. Vince Boddicker of Farmers Trading Company has more.
February 15, 2023 11:22 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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