New Crop Corn and Beans Higher Putting in Weather Premium, Cotton Rallies With China’s GDP: Cattle End Higher After Early Profit Taking

Corn and soybeans end higher but new crop leads putting weather premium. Wheat ignores crop ratings and weather, watches Black Sea news. Fund buying, strong cash supports cattle. Darren Frye, Water Street Solutions.

Corn and soybeans end higher but new crop leads putting weather premium. Wheat ignores crop ratings and weather, watches Black Sea news. Cotton rallies on China’s 4.5% jump in GDP. Fund buying, higher cutouts and strong cash support cattle. Darren Frye, Water Street Solutions 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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