Corn Bounces Off New Lows, Soybeans and Wheat Lower Eyeing U.S. and SA Weather

Corn bounces off new lows, soybeans lower eyeing Brazil rains and wheat seeing profit taking. Grain markets face shipping issues & farmers are more unsold than normal. Nick Tsiolis, Farmers Keeper.

Corn bounces off new lows, with soybeans lower eyeing Brazil rains and wheat seeing profit taking with rains in HRW areas. Grain markets are facing shipping issues and farmers are more unsold than normal. Nick Tsiolis, Farmers Keeper, discusses all that and basis levels.

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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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