Grains end higher with Russia suspending the grain export deal, but how much more war premium do the markets need? Cattle set back with higher feed prices, but is the market topping? Hogs end mixed. Michelle Rook is joined by Mike Zuzulo of Global Commodity Analytics.
Grains Higher as Russia Suspends Export Deal: Cattle Set Back with Higher Corn
Grains higher with Russia suspending the grain export deal, so how much higher do prices go? Cattle set back with higher feed prices, with hogs mixed. Michelle Rook is w/ Mike Zuzulo of Global Commodity Analytics.
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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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