Massive Fund Buying With Full-Blown Weather Rally in Grains but How High Will Prices Go? Cattle Bounce Despite Weaker Cash and Higher Corn

Grains see massive fund buying in a bull blown weather market. How high will price go? Cattle recover despite weaker cash and higher corn, while hogs reverse. Darin Newsom, Barchart.

Grains see massive fund buying in a bull blown weather market and take out major resistance on the charts in the process. How high will price go? Cattle recover despite weaker cash and higher corn, while hogs reverse on profit taking. Darin Newsom, Barchart Sr. Market Analyst covers it all!

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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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