AgDay TV Markets Now: John Payne, Hedge Point Global Markets, says corn and wheat see profit taking. Grain markets will need a supply or demand shock to get a significant rally, even soybeans.
AgDay TV Markets Now: John Payne says Corn and Wheat See Profit Taking, Grains Needs Supply or Demand Shock for Big Rally
AgDay TV Markets Now: John Payne, Hedge Point Global Markets, says corn and wheat see profit taking. Grain markets will need a supply or demand shock to get a significant rally, even soybeans.
December 28, 2023 10:05 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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