Grains end mixed with end of quarter profit taking and report positioning. But are corn and beans putting in harvest lows? Cattle see fund selling with risk off in outside markets and equities. Hogs also preparing for the Hogs and Pigs Report. Don Roose, U.S. Commodities sums it up.
Grains End Mixed on Report and End of Quarter Positioning: Cattle Lower with Risk Off in Equities
Grains end mixed with end of quarter profit taking and report positioning. Cattle see fund selling with risk off in the equities. Hogs also await the Hogs and Pigs Report. Don Roose, U.S. Commodities sums it up.
September 26, 2023 02:19 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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