Markets Mostly Higher Midday Except Soybeans: Wheat Pulls Corn Higher, Corrective Buying in Livestock

Mostly higher markets except soybeans, as wheat sees a corrective bounce and pulls corn along. Livestock futures are seeing corrective buying. Michelle Rook talks to Pat Von Tersch of Professional Ag Marketing.

Mostly higher markets at midday except soybeans, as wheat sees a corrective bounce and pulls corn along, while harvest pressure and lower soybean meal hits the soybeans. Livestock futures are seeing corrective buying. Michelle Rook has analysis with Pat Von Tersch of Professional Ag Marketing.

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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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