Grains end mixed with wheat slightly higher after continuing to chase Black Sea headlines. Corn and soybeans end lower on profit taking and hedge selling. Cattle make new highs then crash despite higher cash at $180 in the South and $188 to $191/$295 in the North. The Dow soared but how far will it go and what impact will it have on ag commodities? Darin Newsom with Barchart has analysis.
Wheat Slightly Higher Chasing War Headlines, Profit Taking Hits Row Crops, Cattle Make News Highs Then Crash Despite Higher Cash
Wheat ends slightly higher Thursday, but corn and soybeans finally set back. Cattle hit new highs then crashed despite higher cash. Darin Newsom with Barchart has the analysis.
July 20, 2023 06:14 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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