Funds selling in the soybean complex with weekend rains, wheat puts in some war premium, corn caught in the tug of war. Cattle consolidate after new highs in feeders and despite higher cash, hogs recover after a lower week. Randy Martinson, Martinson Ag has more.
Funds Sell Beans on Rain, Wheat Adds War Premium with Corn in a Tug of War: Cattle Consolidate After New Highs in Feeders
Funds selling in the soybean complex on rain, wheat puts in some war premium, corn caught in the tug of war. Cattle consolidate after new highs in feeders, hogs bounce. Randy Martinson, Martinson Ag has more.
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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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