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Grains and livestock futures end mixed with corn, wheat and cattle higher, soybeans and hogs weaker. Tomm Pfitzenmaier with Summit Commodity Brokerage says corn was pushed by strong demand with 15.5 million bushels of flash sales and weekly exports of 142 million bushels, the highest in 3 1/2 years. But how much higher can prices go before the U.S. prices becomes unattractive to exporters and the markets hit chart resistance? Soybeans also saw strong exports over 79 million and more flash sales but had a disappointing close running into chart resistance. Wheat followed corn and got some help from a weaker dollar and decent exports. Cattle futures recovered with higher cash trade at mostly $190 in the South, up $2 and up to $192 in the North and he thinks cash and futures can continue to grind higher taking out the old highs. Hogs made fresh for the move highs then scored a reversal, so it that market topping?
See omnystudio.com/listener for privacy information.
By Michelle RookGrains and livestock futures end mixed with corn, wheat and cattle higher, soybeans and hogs weaker. Tomm Pfitzenmaier with Summit Commodity Brokerage says corn was pushed by strong demand with 15.5 million bushels of flash sales and weekly exports of 142 million bushels, the highest in 3 1/2 years. But how much higher can prices go before the U.S. prices becomes unattractive to exporters and the markets hit chart resistance? Soybeans also saw strong exports over 79 million and more flash sales but had a disappointing close running into chart resistance. Wheat followed corn and got some help from a weaker dollar and decent exports. Cattle futures recovered with higher cash trade at mostly $190 in the South, up $2 and up to $192 in the North and he thinks cash and futures can continue to grind higher taking out the old highs. Hogs made fresh for the move highs then scored a reversal, so it that market topping?
See omnystudio.com/listener for privacy information.

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