Grains break hard and make new lows in corn and soybeans with fund selling in a risk off day including crude oil, plus weekend rain in Brazil. Cattle off of highs and big early rally, despite higher cash and a winter storm. Hogs extend gains. DuWayne Bosse, Bolt Marketing, has more.
Grains Break with New Lows in Corn and Beans in Risk Off Day: Cattle Off Highs Despite Higher Cash
New lows in corn & soybeans on risk off funding selling following crude oil, plus rains in Brazil. Cattle off highs, despite strong cash & wx. Hogs extend gains. DuWayne Bosse, Bolt Marketing, has more.
January 08, 2024 12:31 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
Detailed service history helps 2,546-hour combine top $99,000 at Minnesota auction.
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.
