Grains turn mixed on weather, export demand and pre-WASDE positioning. Cattle rebound on sharply higher wholesale beef, while deferred hogs fail with lower cash and cutouts. What is the outlook for crude oil? Rich Nelson of Allendale covers it all.
Grains Mixed on Weather, Export News, WASDE Positioning: Cattle Rebound with Higher Beef
Grains mixed on weather, export demand and pre-WASDE positioning. Cattle rebound on sharply higher beef, while deferred hogs fall with lower cash. What is the outlook for crude oil? Rich Nelson of Allendale.
April 05, 2023 11:27 AM
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
Sentiment in the July Ag Economists’ Monthly Monitor is improving and no one sees the downturn deepening, but interest rates, elevated input costs and corn’s shaky price outlook still cloud the path to 2027.
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.
