AgDay TV Markets Now: Darren Frye of Water Street Solutions recaps the day in grains. Corn and soybeans were higher but new crop contracts led putting in weather premium. However, are those contact vulnerable and will chart support hold once planting accelerates? Does the strong cash market continue to support old crop?
AgDay TV Markets Now: Darren Frye Says New Crop Corn and Beans Lead Putting in Weather Premium but are Vulnerable
AgDay TV Markets Now: Darren Frye, Water Street Solutions says new crop corn and bean contracts led putting in weather premium, but will chart support hold once planting accelerates? And will old crop stay strong?
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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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