Grains end mostly higher as soybeans extend their rally with Argentina weather concerns and fresh demand supportive, corn saw a second day of corrective buying. Cattle ended higher with the bounce in product. Light cash in the south at $154. Hogs consolidated after poor weekly exports. Michelle talks to Naomi Blohm with Total Farm Marketing.
Grains Mostly Higher as Soybeans See Export Demand: Livestock Mixed
Grains end mostly higher as soybeans w/Argentina weather, fresh demand supportive, technical buying in corn. Cattle higher w/firmer product. Poor weekly exports hit hogs. Naomi Blohm with Total Farm Marketing.
December 08, 2022 02:05 PM
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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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