Soybeans higher with new highs in meal, while wheat is pulling down the corn market on technical selling. Cattle continue to march higher with strong cash, but hogs can’t get traction with lagging cash and cutouts. Mark Schultz with Northstar Commodity has details.
Soybeans Rally with New Highs in Meal, Wheat Pulls Down Corn: Cattle Continue Strong
Soybeans up with new highs in meal, but wheat is pulling down the corn. Cattle higher with strong cash, but hogs can’t get traction with lagging cash and cutouts. Mark Schultz with Northstar Commodity has more.
March 06, 2023 11:34 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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