Grain and livestock futures saw some 2-sided trade mostly on end of the month positioning, profit taking and spread unwinding. However, corn and soybeans failed to take out chart resistance. Oliver Sloup with Blue Line Futures has analysis.
Grain and Livestock Futures Close Mixed on End of Month Positioning and Profit Taking
Grain and livestock traded 2-sided with end of the month positioning, profit taking & spread unwinding. However, corn & soybeans failed to take out chart resistance. Oliver Sloup, Blue Line Futures has analysis.
January 31, 2023 02:41 PM
Related Stories
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.
Read Next
Joel Gross contends a retaliatory hammer dropped on his operation, costing him hundreds of thousands of dollars.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
