Grains Lower on Harvest Pressure, Export News, Higher Dollar: LC see Profit Taking Ahead of Report, Hogs Mixed

Grains under pressure on higher dollar, Ukraine export news, rain chance in wheat areas, harvest pressure. LC see profit taking ahead of COF, hogs mixed. Michelle Rook talks with Randy Martinson of Martinson Ag.

Grains under pressure on higher dollar and recessionary concerns, talk of an extension of the Ukraine export deal, rain chances in winter wheat areas, plus harvest pressure hits row crops. LC see profit taking ahead of the cattle on feed report and hogs are mixed. Michelle Rook talks with Randy Martinson of Martinson Ag.

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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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