Grain and livestock futures all ended lower with a risk off day in outside markets spilling over but corn and soybeans also saw profit taking and a change in the weather weigh on the market. Cattle confirmed the key reversal but will it hold if cash moves higher? Jim McCormick with AgMarket.Net has details.
Tough Day in Commodities as Risk Off in Outside Markets Spills Over
Markets lower with a risk off day in outside markets spilling over but corn and soybeans also saw profit taking with a change in weather. Cattle confirmed the reversal. Jim McCormick, AgMarket.Net .
April 04, 2023 02:02 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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