Grains close mostly higher Friday but were down for the week on technical selling and with more favorable weather in Brazil and U.S. winter wheat areas. Markets will start next week assessing rains in Brazil. Livestock will react to Friday’s USDA reports which were friendly for hogs and neutral to slightly bearish for cattle with a higher-than-expected placements figure. Don Roose, U.S. Commodities has details.
Grains Mixed Friday but Down for the Week Watching SA Crop: USDA Reports Friendly for Hogs, Neutral/Bearish Cattle
Grains mostly higher Friday but down for the week on technical selling, with more favorable wx in Brazil. USDA reports friendly for hogs, neutral to slightly bearish for cattle. Don Roose, U.S. Commodities has more.
December 22, 2023 03:07 PM
Related Stories
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.
Read Next
Detailed service history helps 2,546-hour combine top $99,000 at Minnesota auction.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
