Soybeans are seeing pressure with Brazilian competition and news of a cargo being imported into the SE U.S., while corn is getting a boost from more China corn biz. Wheat is putting in some weather premium with cold temps in the forecast and concerns about the Black Sea grain deal. Cattle take a breather on profit taking and hedge pressure, while hogs try to bounce off of contract lows. Ted Seifried of Zaner Ag Hedge has analysis.
Soybeans Fall on Brazil Imports, With China Biz Supporting Corn: Corrective Action in Hogs and Cattle
Soybeans down on news of Brazil imports, corn gets a boost from China sales, wheat puts in weather & war premium. Cattle see profit taking & hedge pressure, w/short covering in hogs. Ted Seifried, Zaner Ag Hedge.
April 14, 2023 11:36 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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