Corn and soybeans end higher with wheat lower on report positioning and end of the quarter profit taking. That was also true of livestock and the outside markets like crude oil, but macro-economic factors also drove trade. Tommy Grisafi, Advance Trading, explains the money flow moves in all the markets!
Markets End Mixed on Money Flow End of Quarter and Economic Concerns: Grains Await Reports
Grains mixed on report positioning and end of the quarter profit taking. Economic concerns also impacted cattle and outside markets. Tommy Grisafi, Advance Trading, explains all the money flow moves!
September 27, 2023 03:14 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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