Soybeans up on weather and export biz, corn down with wheat and on poor technicals after the reversal Friday, weekend rains and higher yield ideas. Cattle consolidate despite steady to higher cash, hogs seasonally slide. Mike Minor, Professional Ag Marketing has more.
Soybeans Higher on Weather, Export Biz While Corn Lower with Wheat and Growing Yield Ideas: Cattle and Hogs Mostly Lower Consolidating
Soybeans up on weather and export biz, corn down on poor technicals and higher yield ideas. Cattle consolidate despite steady to higher cash, hogs seasonally slide. Mike Minor, Professional Ag Marketing has more.
August 14, 2023 09:35 AM
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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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