Wheat gaps higher on the open putting Black Sea war premium in, pulls corn and beans up. Hogs extend rally from last week, with more fund selling in cattle and pressure from higher corn. Michelle Rook has details with DuWayne Bosse of Bolt Marketing.
Wheat Gaps Higher on Open Adding War Premium Pulls up Grains: Cattle React and See Fund Selling, While Hogs Extend Rally
Wheat gaps higher on the open putting war premium in, pulls corn and beans up. That pressures cattle, while hogs extend rally from last week. Michelle Rook has details with DuWayne Bosse of Bolt Marketing.
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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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