Grains mixed early with soybeans and meal seeing some profit taking after contract highs in meal. Crude oil and the equities lower after the CPI data showing inflation is still alive. Cattle also consolidate after contract highs in live cattle Monday. Darin Newsom of Barchart has details.
Soybeans and Meal Set Back on Profit Taking, Outside Markets React to CPI: Cattle Also Consolidate
Grains mixed early with soybeans and meal seeing some profit taking. Oil and the equities lower after the CPI data showing inflation is still alive. Cattle also consolidate. Darin Newsom of Barchart has details.
February 14, 2023 09:16 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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