Grains see technical selling removing Black Sea war and SA weather premium. Mexico in for U.S. corn biz. Buy it before you ban it? Cattle higher with lower corn, but rangebound? Michelle Rook talks with Joe Vaclavik of Standard Grain.
Grains Lower with Technical Selling, Removing War and Weather Premium: Despite Largest Mexican Corn Buy Ever
Grains see technical selling removing Black Sea war and SA weather premium. Mexico largest single purchase of U.S. corn ever. Buy it before you ban it? Michelle Rook talks with Joe Vaclavik of Standard Grain.
November 16, 2022 11:27 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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