Corn sees harvest pressure, with soybeans rallying on China talk and SA weather/estimates. Wheat sees short covering with the lower dollar. Live cattle filled the chart gap in the Dec but can they keep going? Hogs back up but into chart resistance. DuWayne Bosse, Bolt Marketing, joins us in the tractor while harvesting corn!
Markets From the Tractor on a Higher Day Except Corn: China Talk and SA News Drive Row Crops
Corn sees harvest pressure, soybeans up on China talk and SA news. Wheat sees short covering. Dec live cattle filled the chart gap but can they keep going? DuWayne Bosse, Bolt Marketing, joins us while harvesting corn!
November 02, 2023 11:27 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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