Corn and soybeans higher on weather, corrective buying, watching outside markets and news. Live cattle make new highs pushed by record high cash. Hogs see more short covering. Vince Boddicker, Farmers Trading Company has details.
Grains Higher Midday on Weather, Technical Buying, Trade News: Live Cattle Supported by Record Cash Sales
Grains up on weather, corrective buying, watching outside markets & news. Live cattle make new highs pushed by record high cash. Hogs see more short covering. Vince Boddicker, Farmers Trading Company has details.
June 02, 2023 11:46 AM
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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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