A mixed market day. Corn and soybeans were higher with supportive outside markets including the lower dollar, while wheat set back with moisture in HRW areas. Cattle saw profit taking, while hogs were up following cash. Michelle Rook talks with Matt Bennett of AgMarket.Net.
Corn and Beans Rally with Outside Markets Higher, Dollar Lower with Wheat Lower on Rain: Profit Taking in Cattle
Corn & beans higher with supportive outside markets & lower dollar, wheat weak with HRW rains. Cattle saw profit taking, while hogs were up following cash. Michelle Rook talks with Matt Bennett of AgMarket.Net.
October 25, 2022 02:09 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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