The soybean complex rallies adding Brazil weather premium, while wheat and corn slide on lack of demand. Cattle have confirmed a low but how much recovery is expected? Hogs end mixed but China news may help the market rebound. Shawn Hackett, Hackett Financial Advisors, has insight.
Soybeans Up on Brazil Crop Concerns, Corn and Wheat Slide on Lack of New Export Biz: Cattle Recovery Continues
Soybeans rally adding Brazil weather premium, wheat and corn slide on slow demand. Cattle higher but how much recovery is expected? Hogs mixed. Shawn Hackett, Hackett Financial Advisors, has insight.
December 18, 2023 02:39 PM
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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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