Grains mixed before the reports but what was the market already telling us about what’s likely in the USDA numbers? We’re also seeing end of quarter profit taking in many markets including crude oil and the equities. Cattle hit more contract highs with higher cash, can it keep going? Hogs working in the report numbers but its also end of quarter. Darin Newsom with Barchart has details.
Grains and Hogs 2-Sided End of Quarter, Ahead of Reports: New Contract Highs in Cattle
Grains 2-sided of quarter and before the reports but what was the market already telling us about the UDSA numbers? Cattle hit more contract highs with higher cash, can it keep going? Darin Newsom, Barchart.
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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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