Markets are mixed and quiet early today. Can corn and wheat recover after the technical damage done last week or will funds continue to sell? Soybeans continue to be supported by SA weather and China’s easing COVID policy, despite the implosion in BO. What’s ahead for cattle in the new year? Kevin Duling of KD Investors has details.
Markets Mixed Early: Soybeans Up with China COVID Policy Easing, Will Funds Keep Selling Corn and Wheat?
Markets are mixed early. Can corn and wheat recover after technical damage or will funds sell more? Soybeans up on easing China COVID policy. What’s ahead for cattle? Kevin Duling of KD Investors has details.
December 05, 2022 08:56 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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