Markets Now: Soybeans Higher with New High in Meal, Corn and Wheat See More Technical Selling, Livestock Consolidate with Weak Products

Soybeans higher following new highs in meal, Argentina dryness and export biz. More technical selling in corn, wheat. Livestock lower on consolidation, lower product values. DuWayne Bosse of Bolt Marketing.

Grains end mixed with soybeans higher following new contract highs in meal, Argentina dryness and export biz. More technical selling in corn and wheat. Livestock under pressure on consolidation and lower product values. DuWayne Bosse of Bolt Marketing has details.

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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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