Corn and wheat see follow through selling, while soybeans correct with help from higher meal, export biz and hot dry weather returning in Argentina. Cattle seeing some short covering but traders are keeping an eye on the economy and demand. Hogs open mixed. Kent Beadle of Paradigm Futures has more.
Soybeans Correcting on Argentina Forecast & Export Biz, Follow Through Selling in Corn and Wheat: Cattle Bounce, Hogs Mixed
Corn and wheat see follow through selling, while soybeans correct w/meal, hot dry weather returning in Argentina, export biz. Short covering in cattle, with hogs mixed. Kent Beadle of Paradigm Futures has more.
January 04, 2023 08:55 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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