Grains mostly higher seeing corrective buying and soybean export biz but watching weather and Black Sea war news. Cattle see fund selling with disappointing cash, hogs bounce with higher cutouts. Vince Boddicker, Farmers Trading Company, has details.
Grains See Corrective Bounce, Watching Weather and War: Funds Sell in Cattle on Steady to Weaker Cash, Hogs Bounce
Grains mostly higher on corrective buying, soybean export biz but watching weather, war news. Cattle lower on disappointing cash, hogs bounce with higher cutouts. Vince Boddicker, Farmers Trading Company, has details.
September 01, 2023 11:53 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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