Grains are higher with corrective buying but wheat is also leading on geopolitical concerns. Crude oil and Argentina weather also supportive. Nearby live cattle are up on higher cash and could rally more if higher cash is confirmed in the south. Meanwhile hogs are mixed. DuWayne Bosse of Bolt Marketing breaks it down.
Grains Strong on Corrective Buying, War and Weather Premium, CO: Cattle Mixed with Higher Cash but Higher Corn
Grains are higher with corrective buying, but wheat puts in war premium. Crude oil, Argentina weather also supportive. Nearby live cattle are up on higher cash. Hogs mixed. DuWayne Bosse of Bolt Marketing.
February 10, 2023 11:38 AM
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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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