Soybeans lead the grains mostly higher with technical buying and putting in Brazil weather premium. Cattle fall with higher feed prices and fund liquidation. Randy Martinson, Martinson Ag, has more.
Soybeans Lead Grains Higher Putting in Brazil Weather Premium: Cattle See More Fund Selling with Higher Feed
Soybeans lead the grains mostly higher with technical buying and putting in Brazil weather premium. Cattle fall with higher feed prices and fund liquidation. Randy Martinson, Martinson Ag, has more.
November 21, 2023 09:24 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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