Soybeans higher on extended weather and export biz, with corn pulled down by wheat, weekend rains, poor technicals and higher production ideas. Wheat still digesting bigger ending stocks and poor demand. Profit taking in crude oil. Cattle consolidating awaiting cash direction, with hogs lower following cutouts. Randy Martinson, Martinson Ag has details.
Soybeans Supported by Weather, Export Biz While Corn is Down with Wheat, Technicals: Crude Oil and Cattle Consolidate
Soybeans up on weather and export biz, with corn pulled down by wheat, poor technicals. Profit taking in crude oil. Cattle consolidating awaiting cash direction. Randy Martinson, Martinson Ag has details.
August 14, 2023 11:31 AM
Related Stories
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.
Read Next
Passing the farm to the next generation takes more than deciding who gets what. The right estate plan can help avoid family conflict, unexpected costs and headaches down the road.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
