Grains see a lack of follow through buying after higher closes and possible reversal in corn Tuesday. Report positioning and CONAB’s estimates for Brazil disappoint. Cattle build wx premium with higher cash ideas. Hogs consolidate. Mike Minor, Professional Ag Marketing, has more.
Grains See Lack of Follow Through Buying Pre-WASDE, Cattle Add Weather Premium
No follow through in grains after higher day Tuesday, pre-WASDE. CONAB’s Brazil estimates disappoint. Cattle add wx premium w/higher cash ideas. Hogs consolidate. Mike Minor, Professional Ag Marketing, has more.
Related Stories
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.
Read Next
Detailed service history helps 2,546-hour combine top $99,000 at Minnesota auction.
Commodity Market Futures
Futures prices on grains, livestock, oil and more

Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.

Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
