Grains close mixed with soybeans still working in the bullish USDA numbers but sharply higher soybean oil and crude oil also helped. Corn and wheat both ended mixed on profit taking and hedge pressure and that also explains the action in cattle. Randy Martinson of Martinson Ag has full details.
Soybeans Rally with Bean and Crude Oil: Profit Taking Hits Corn, Wheat and Cattle
Soybeans higher still working in the bullish USDA numbers and higher soybean oil. Corn and wheat end mixed on profit taking and hedge pressure. Cattle lower on consolidation. Randy Martinson of Martinson Ag.
April 03, 2023 02:15 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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