Grains mostly lower with technical selling, the sharply higher dollar, weak exports, plus profit taking in soybeans with lower meal. Cattle consolidate despite steady to higher cash Thursday. Hogs mixed caught between lower cash verses the futures discount and strong exports. Michelle Rook talks with Don Roose of U.S. Commodities.
Grains Mostly Lower With Strong Dollar, Slow Exports, Profit Taking in Soybeans: Cattle Mostly Lower Despite Steady to Higher Cash
Grains mostly lower w/the strong dollar, weak exports & profit taking in soybeans. Cattle consolidate despite steady to higher cash. Hogs down with weaker cash. Michelle Rook w/ Don Roose of U.S. Commodities.
November 03, 2022 01:54 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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