Grains finally end higher but is it just a dead cat bounce because the market is oversold? Cattle make new highs for the move heading into the COF, while crude oil rallies in a risk on day with passage of the CR. Jim McCormick, AgMarket.Net has the wrap up!
Grains Finally Close Higher but Can the Market Build on It? Cattle and Crude Oil Also Rally
Grains finally end higher, but can the market build on it? Cattle make new highs for the move pre-COF, while crude oil rallies in a risk on day. Jim McCormick, AgMarket.Net has more.
January 18, 2024 03:12 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
Corn conditions posted their steepest weekly drop of the year as triple-digit heat hit the Midwest and Plains. AgResource’s Dan Basse says as a result, slight revisions to national yield estimates are already underway.
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.
