A mostly higher day in grain and livestock futures. Funds bought in the grains with concerns about wheat production after the WASDE report and uncertainty about the extension of the Black Sea Grain Initiative. Cattle continued to narrow the gap between cash and futures, while hogs sense a seasonal cash bottom. Arlan Suderman of StoneX has full analysis.
Wheat Leads Grains Higher On Concerns About Production and Black Sea Grain Deal
Funds buy in grains with concerns about wheat production and the Black Sea Grain deal. Cattle narrow the gap between cash and futures, while hogs sense a seasonal cash bottom. Arlan Suderman of StoneX has more.
May 15, 2023 06:47 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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