Grains see technical buying on light holiday volume, strong corn exports. Livestock 2-sided with hogs seeing short covering on strong exports, cattle mixed with higher corn vs. higher cash. Michelle Rook has an update.
Grain Prices Continue Higher Midsession on Holiday, Technical Buying: Livestock 2-Sided Trade
Grains see technical buying on light holiday volume, strong corn exports. Livestock 2-sided with strong exports, short covering in hogs, cattle mixed with higher corn vs. higher cash. Michelle Rook has an update.
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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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