Markets Recover in All but Corn Which Hits Three Year Lows: Cattle Surge with Jan Feeders Limit Up

Ag markets see corrective buying except corn which hits contract lows. Cattle surge with a limit up day in Jan feeders. Can the markets build on this recovery Tomm Pfitzenmaier, Summit Commodity Brokerage has more.

Ag markets rebound seeing corrective buying except corn which hits contract lows. Cattle surge with a limit up day in Jan feeders. Can the markets build on this recovery and why didn’t corn follow? Tomm Pfitzenmaier, Summit Commodity Brokerage has more.

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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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