AgDay TV Markets Now: Scott Varilek, Kooima Kooima Varilek, says cattle fade bearish COF, while grains up on short covering and end of year positioning plus underlying demand.
AgDay TV Markets Now: Scott Varilek says Cattle Fade COF, Grains Up on Short Covering and Demand
AgDay TV Markets Now: Scott Varilek, Kooima Kooima Varilek, says cattle fade bearish COF, while grains up on short covering and end of year positioning plus underlying demand.
December 26, 2023 05:07 PM
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Grain markets were lower on Wednesday and to start Thursday, seeing profit taking after hitting key chart resistance and with cooler, wetter extended weather forecast for the Midwest. That’s according to Randy Martinson with Martinson Ag.
Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
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