Grains end higher after digesting the WASDE data and seeing technical buying after bouncing off key support areas. Cattle make a healthy bull market correction and so does crude oil but may go to $100. Naomi Blohm, Total Farm Marketing, covers it all!
Grains End Higher on Technical Buying After Digesting WASDE Data: Cattle and Crude Oil See Healthy Bull Market Corrections
Grains end higher after digesting WASDE data and see technical buying after bouncing off key support areas. Cattle and crude oil make a healthy bull market correction. Naomi Blohm, Total Farm Marketing, covers it all!
September 13, 2023 02:36 PM
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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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