Soybeans up on SA Wx and Export News, Corn & Wheat Try to Follow: Cattle Gap Lower, Hogs See Corrective Buying

Soybeans up on SA wx, export news, bean oil. Corn and wheat try to follow but also see WASDE positioning. Cattle gap lower on open, corrective buying in hogs. Mark Schultz, Northstar Commodity, has more.

Soybeans putting in SA weather premium with export news and bean oil supportive. Corn and wheat are trying to follow. Markets also gearing up for the WASDE. Cattle gap lower on open on disappointing cash and lower boxed beef, hogs see corrective buying. Mark Schultz, Northstar Commodity, has more.

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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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