Grains lower still removing weather & war premium, ignoring the 4.85 mb new crop beans to China. Corn and soybeans are testing chart support. Live cattle lower with sloppy and limited cash, hogs consolidating. Kent Beadle, Paradigm Futures has more.
Grains Lower Removing More Weather and War Premium, Despite China Soybean Sales: Live Cattle Lower with Limited and Sloppy Cash
Grains lower still removing weather & war premium, ignoring the 4.85 mb new crop beans to China. Live cattle lower with sloppy and limited cash, hogs consolidating. Kent Beadle, Paradigm Futures has more.
July 31, 2023 09:25 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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