Corn and soybeans lower trading improved weather and seeing fund profit taking heading into a 3-day weekend and WASDE Report. The Argentina soy peso program also weighing on beans. Cattle gap higher on higher cash and hit new contract highs. Steve Freed of ADM Investor Services has details.
Weather, Fund Selling Weigh on Corn and Beans: Cattle Gap Higher with Strong Cash
Corn and soybeans lower on improved weather, Argentina soy peso program, fund profit taking heading into a 3-day weekend and WASDE Report. Cattle gap higher on strong cash. Steve Freed, ADM Investor Services.
April 06, 2023 09:46 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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