Grains mostly lower on profit taking, rain chances in Brazil and spillover from outside markets with the lower crude oil and the firmer dollar. Cattle higher for the third day with help from the equity rally, but will it last if the COF is bearish? Hogs see a correction. John Heinberg, Total Farm Marketing, has more.
Grains Mostly Lower on Profit Taking, Brazil Rain Chances, Outside Markets: Cattle Up for Third Day with Help from Equities
Grains mostly lower on profit taking, rain chances in Brazil and spillover from outside markets. Cattle higher with help from the equity rally. Hogs correct. John Heinberg, Total Farm Marketing, has more.
November 15, 2023 02:31 PM
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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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