Soybeans and products saw massive fund selling making new lows for the move, which pulled down corn after supportive export news. Wheat saw corrective buying. Live cattle had an inside day but disappointed with cash mixed, lower in the south but higher in the north. New contract lows again in hogs. Chip Nellinger with Blue Reef Agri-Marketing breaks it down.
Soybean Complex Has Ugly Day of Fund Selling Pulling Corn Down: Cattle End Mixed as Well as Hogs after New Contract Lows
Soybeans and products saw massive fund selling pulling down corn. Wheat saw corrective buying. Live cattle post an inside day with new contract lows again in hogs. Chip Nellinger, Blue Reef Agri-Marketing has more.
March 23, 2023 02:22 PM
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.
