Grains are higher except corn, with weather concerns in South America. How much higher can soybeans go? Live cattle make new contract highs with help from higher cash despite the lower equities ahead of the Fed meeting. Ted Seifried of Zaner Ag Hedge has analysis.
Grains Mostly Higher Except Corn with Weather Concerns in South America: Live Cattle Make New Contract Highs
Grains higher except corn, with weather concerns in South America. How much higher can soybeans go? Live cattle make new contract highs with help from higher cash. Ted Seifried of Zaner Ag Hedge has analysis.
January 30, 2023 11:29 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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