Soybeans and meal see follow-through selling with report hangover. How much lower do prices go? Corn bounces off support and follows wheat, which may have bottomed? Cattle further consolidate after getting overbought, hogs mixed. DuWayne Bosse, Bolt Marketing, breaks it down.
Soybeans Slide on Report Hangover, Corn Bounces Off Support Following Wheat: Cattle Further Consolidate
Soybeans see follow-through selling with report hangover. Corn follows wheat, which may have bottomed? Cattle further consolidate after getting overbought, hogs mixed. DuWayne Bosse, Bolt Marketing, breaks it down.
September 13, 2023 03:27 PM
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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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