Grains are mixed with positioning ahead of the reports and weak exports, soybeans are oversold and seeing corrective buying. Have the grain markets already priced in a bearish report? Cattle reversed a lower start with higher cash ideas and weather supportive. Chip Nellinger, Blue Reef Agri-Marketing has more.
Soybeans See Corrective Bounce, Corn & Wheat Struggle but Have the Markets Priced in Bearish Reports? Cattle Up on Wx and Cash Ideas
Grains are mixed with positioning ahead of the reports and weak exports, soybeans are oversold and seeing corrective buying. Cattle up on higher cash ideas and wx. Chip Nellinger, Blue Reef Agri-Marketing has more.
January 11, 2024 01:25 PM
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Arlan Suderman, Chief Commodities Economist with StoneX says the corn and soybean markets were trading higher yields coming into the report and saw a positive reaction as a result.
Kyle Bumsted of Allendale, Inc. says, “The way we rallied off our lows here on Friday and the bounce we saw here on Monday, it does feel like cattle put in some sort of intermediate low.”
Mike Minor of Professional Ag Marketing says corn and soybeans were positioning ahead of the November WASDE with fears of higher yield.
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