AgDay TV Markets Now: Oliver Sloup, Blue Line Futures, discusses the bounce off new lows in corn and how much downside risk there is in the market, plus the poor technical action in soybeans and cattle after fund long liquidation.
AgDay TV Markets Now: Oliver Sloup Discusses if Corn’s Bottoming, and if Funds Liquidate More in Beans and Cattle?
AgDay TV Markets Now: Oliver Sloup, Blue Line Futures, discusses the bounce off new lows in corn and how much downside risk there is in the market, plus the poor technical action in soybeans and cattle.
September 19, 2023 05:11 PM
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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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