Grains Mostly Lower Pre-USDA Reports but is Bearish Data Factored In? Livestock Finish Strong

Grains end mostly lower except soybeans on exports, Argentina estimates & ahead of USDA data. Are bearish reports already priced in? Cattle & hogs finish strong on wx, firmer cutouts. Rich Nelson, Allendale, has more.

Grains end mostly lower except soybeans on exports, Argentina estimates & ahead of USDA data. Are bearish reports already priced in? Cattle & hogs finish strong on wx, firmer cutouts. Rich Nelson, Allendale, has more.

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Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
November soybeans failed to close above the key $12 level and Naomi Blohm of Total Farm Marketing thinks the market may be running out of runway as Monday was mostly technical buying.
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