Corn and beans end steady to higher trading weather, but also seeing profit taking and hedge selling when Dec corn got above $6 and Nov soybeans broke through $13.50. Wheat was mixed on spreading. Cattle consolidated and took out chart support, while hogs continued to rally pushed by cash. DuWayne Bosse of Bolt Marketing has details.
Row Crops End Steady to Higher Trading Weather, But Seeing Profit Taking: Cattle Consolidate Take Out Support, Hogs Rally
Corn and beans end steady to higher trading weather but see profit taking. Wheat mixed on spreading. Cattle consolidated breaking chart support, while hogs rally pushed by cash. DuWayne Bosse, Bolt Marketing.
June 20, 2023 02:38 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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