Soybeans plunge on weekend rains; wheat is mostly higher on Black Sea war news with corn 2-sided in the middle. Corn & bean export biz failing to support. Live cattle mixed, but feeders make new highs with lower corn. Kevin Duling, KD Investors has more.
Soybeans Plunge on Rains, Wheat Mostly Higher on Black Sea News, Corn Caught in Middle: Feeders Make Some New Highs
Soybeans plunge on rains; wheat mostly higher on Black Sea war news, corn 2-sided in the middle. Corn & bean export biz fails to support. Feeders make some new highs, Feds mixed. Kevin Duling, KD Investors has more.
August 07, 2023 09:26 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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