AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing says grains higher on technical buying and put in weather premium, while cattle hit contract highs with sharply higher cash.
AgDay TV Markets Now: Chip Nellinger Says Grains Put in Weather Premium, While Cash Pushes Cattle Into New Highs
AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing says grains higher on technical buying and put in weather premium, while cattle hit contract highs with sharply higher cash.
June 02, 2023 12:25 AM
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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
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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