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It was an eventful morning, particularly in the cattle complex with a big gap higher, but the market settled down shortly after the open with some contracts closing lower on the day. Grain markets were mostly mixed.

Kent Beadle with Paradigm Futures says soybeans built on Friday’s bullish reversal with talk China is looking for more U.S. soybeans. Cattle had a volatile session with a bearish Cattle on Feed Report and sorting through import restrictions on Mexican cattle due to New World Screwworm.

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Cattle futures gap higher in Monday’s trade on the back of concern regarding beef imports from Mexico

Brad Kooima, Kooima Kooima Varilek, says cattle futures shook off the bearish Cattle on Feed Report numbers with an announcement of New World Screwworm detected in Mexico. Soybeans built on the key reversal Friday on talk of China buying U.S. soybeans.

It’s a bit of a mixed bag in the early morning trade with corn and wheat lower and beans hanging on to small gains. Here’s what’s on tap for today’s trade.

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Jon Scheve discusses how China might be setting up exports of sorghum from South America and how that will impact U.S. farmers, sorghum prices and corn prices.

New World Screwworm is a serious veterinary pest that can cause severe damage to livestock and wildlife populations. The detection of New World Screwworm in Mexico and the subsequent USDA actions may have significant implications on trade and travel.