Grains Off Lows but Can it Rally with Big Supplies, Weak Demand and What’s the Outlook for Outside Markets?

Grains off lows but can it rally pre-report, with headwinds like Brazil wx & slow demand? How much wx premium does the cattle market need? What’s the outlook for outside markets? Darin Newsom, Barchart, has answers.

The grain market comes off the lows but can it close higher pre-report, with headwinds like the Brazil crop and slow demand? How much wx premium does the cattle market need to add? What is the outlook for outside and equity markets? Darin Newsom, Barchart, has answers.

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Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
November soybeans failed to close above the key $12 level and Naomi Blohm of Total Farm Marketing thinks the market may be running out of runway as Monday was mostly technical buying.
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