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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Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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