Grains Mixed Early With Follow Through Selling in Soybeans: Livestock and Milk Mostly Lower

Wheat sees corrective buying, soybeans more technical selling with good rains in Argentina. Corn is caught in the middle. Cattle and milk markets are lower. Bryan Doherty of Total Farm Marketing has details.

Grains mixed with wheat seeing follow through corrective buying, soybeans under pressure with more technical selling and good rains in Argentina. Corn is caught in the middle. Cattle and milk markets are lower. Bryan Doherty of Total Farm Marketing has details.

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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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