Corn and wheat see technical selling with poor demand and ahead of the WASDE. Soybeans firm after holding support and with China biz. Cattle up following higher beef values and cash ideas, hogs fall with cash index. DuWayne Bosse Bolt Marketing has more.
Corn and Wheat Lower Ahead of Report, Soybeans Hold Gains with China Biz: Cattle Supported by Higher Beef Values, Hogs Fail
Corn and wheat ahead of the WASDE. Soybeans firm after holding support and with China biz. Cattle follow higher beef values and cash ideas, hogs fall with cash index. DuWayne Bosse Bolt Marketing has more.
August 09, 2023 11:56 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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