Soybeans higher following products, corn and wheat mixed chasing Russia headlines, weather, big reports and with first notice day, end of quarter of Friday. Cattle correcting after COF, lower cash and beef. Hogs strong helped by cash. John Payne, Hedge Point Global Markets has details.
Soybeans Follow Products Higher, Corn and Wheat Mixed on Weather, Russia Headlines, Reports: Hogs Strong, Cattle Weak
Soybeans higher following products, corn & wheat mixed chasing Russia headlines, weather, reports. Cattle correcting after COF, lower cash and beef. Hogs strong helped by cash. John Payne, Hedge Point Global Markets.
June 26, 2023 02:48 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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