Soybeans and meal higher on Argentina frost and corn and wheat trying to follow but watching geopolitical headlines, economic news and outside markets. Livestock supported early with higher product values and higher cash. Darin Newsom with Barchart has details.
Grains Mostly Higher EarlyTrading Argentina Frost and Geopolitical, Economic News: Livestock Mostly Higher With Product Values Supportive
Soybeans and meal higher on Argentina frost and corn and wheat trying to follow but watching geopolitical headlines. Livestock supported early with higher cash and cutouts. Darin Newsom with Barchart has details.
February 21, 2023 09:21 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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