A risk off day in grains w/rains falling and more in the forecast. That’s trumping new port attacks on the Danube River. What’s that mean for basis levels and livestock producers? Cattle and hogs also consolidate, despite lower feed prices. Nick Tsiolis, Farmers Keeper has more.
Risk Off Day in Grains on Weather, Trumps New Ukraine Port Attacks: What’s That Mean for Basis?
A risk off day in grains w/rains falling and more in the forecast. That’s trumping new port attacks on the Danube River. What’s that mean for basis levels? Cattle consolidate. Nick Tsiolis, Farmers Keeper 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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