Soybeans extend gains early digesting lower acres but end off highs on profit-taking, with corn and wheat lower on light holiday trade. Feeders make new contract highs, while live cattle see profit taking, bull spreads continue in hogs. Chip Nellinger, Blue Reef Agri-Marketing has more.
Soybeans Extend Gains Working in Lower Acres, Corn and Wheat Lower: Feeders Hit More Contract Highs
Soybeans higher digesting lower acres but end off highs on profit-taking, corn & wheat lower. Feeders make contract highs, LC see profit taking, bull spreads continue in hogs. Chip Nellinger, Blue Reef Agri-Marketing.
July 03, 2023 02:53 PM
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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
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