Markets end mostly lower with risk off fund selling. Soybeans and wheat also weighed on by weather, fast planting, Brazil prices. Corn held chart support but for how long? Cattle consolidating waiting for cash direction, with hogs failing waiting for a cash bottom. Oliver Sloup, Blue Line Futures has details.
Mostly Lower Closes with Risk Off Fund Selling, Weather, Planting Pace, Brazil Prices Weigh on Grains: Cattle Consolidate Ahead of Cash
Markets end mostly lower with risk off fund selling, weather, fast planting, Brazil prices. Cattle consolidating waiting for cash direction, with hogs failing. Oliver Sloup, Blue Line Futures has details.
April 25, 2023 02:15 PM
Related Stories
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.
Read Next
Senate Ag Committee’s 10-11 farm bill vote stalls the legislation, but a bipartisan 17-6 vote on mandatory country-of-original labeling keeps mandatory beef labeling alive for a potential September revote.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
