Grains are trying to recover are we working on reversals and short-term lows or is this just a dead cat bounce because we’re oversold? Was wheat chasing headlines this week? Cattle continue strong with some firmer cash will it continue? And what are outside markets telling us about the economy? Darin Newsom with Barchart covers it all!
Grains Bounce But Are We Putting in Short Term Lows: Cattle Extend Grains With Firmer Cash, What About Copper?
Grains are trying to recover, but are these short term lows? Was wheat chasing headlines this week? Cattle strong with some firmer cash. And what are outside markets hinting on the economy? 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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