Soybeans roared back into the close with the help of products, while corn and wheat were mostly lower on fund selling, weather, removing war premium and the higher dollar. Cattle had a strong close bouncing off support and with help from higher product values and cash ideas, hogs reversed lower on profit taking. DuWayne Bosse, Bolt Marketing has more.
Soybeans Recover, Corn and Wheat Pressed by Weather, Dollar, Fund Selling: Cattle Bounce Off Support with Higher Product
Soybeans recovered with the products, corn and wheat were lower on weather and the higher dollar. Cattle closed strong with help from higher product, hogs reversed lower. DuWayne Bosse, Bolt Marketing has more.
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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