Grains see some early strength with soybeans building on the strong close over $15 yesterday and higher meal prices, exports were also supportive of the grains. Cattle futures continue to show bullish optimism in the deferreds, but cash will be important for the nearbys. April lean hogs should find support around $80. That’s according to John Payne of Hedge Point Global Markets.
Grains Higher with Export News and Technical Buying with Soybeans Above $15: Livestock Under Pressure with Profit Taking in Cattle
Grains and cotton higher with technical buying and supportive export news. Cattle seeing profit taking awaiting cash. Hogs also lower. John Payne of Hedge Point Global Markets.
January 26, 2023 09:01 AM
Related Stories
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Read Next
East-central Iowa field agronomist says misjudging corn growth stage, not herbicide choice, can be the biggest risk in post-emerge passes.
