Grain mixed with short covering in corn and beans waiting for fresh news, technical selling continues in wheat. Cattle higher with lower corn, higher cash and report positioning. Michelle Rook w/Randy Martinson, Martinson Ag.
Funds Cover Shorts in Row Crops, but Sell Wheat: Higher Cash, Report Ideas Support Cattle
Grain mixed with short covering in row crops waiting for fresh news, technical selling in wheat. Cattle higher with lower corn, higher cash and report positioning. Michelle Rook w/Randy Martinson, Martinson Ag.
November 18, 2022 12:58 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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