Grains mostly higher with report positioning and spillover from a friendly CPI number, which is supporting the outside markets with crude oil higher and the dollar lower. That is also helping the hogs and live cattle are making new highs again. Allison Thompson, The Money Farm, has details and what to expect and look for in today’s WASDE.
Grain and Livestock Futures Mostly Higher on Report Positioning and Support from Friendly CPI Data
Grains mostly higher with report positioning & spillover from friendly CPI data. That’s supporting hogs and live cattle are making new highs. Allison Thompson, The Money Farm, has details and a preview of the WASDE.
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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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