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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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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