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Grains were higher on Monday with fund and technical buying but led by the soaring soybean market. Allison Thompson with The Money Farm, says the combination of China lowering interest rates, dry South American weather and an additional 6.1 million bushels of soybean export business supported soybeans. However, November beans could not take out the August high, which the market needs to close above to keep the rally going. Corn and wheat followed soybeans but were also putting in some weather premium and reacted to strong export inspections. Cattle futures made new highs for the move with cash up $2-$3 last week and a neutral Cattle on Feed Report. However, she says the market is running into the next area of chart resistance.
See omnystudio.com/listener for privacy information.
By Michelle RookGrains were higher on Monday with fund and technical buying but led by the soaring soybean market. Allison Thompson with The Money Farm, says the combination of China lowering interest rates, dry South American weather and an additional 6.1 million bushels of soybean export business supported soybeans. However, November beans could not take out the August high, which the market needs to close above to keep the rally going. Corn and wheat followed soybeans but were also putting in some weather premium and reacted to strong export inspections. Cattle futures made new highs for the move with cash up $2-$3 last week and a neutral Cattle on Feed Report. However, she says the market is running into the next area of chart resistance.
See omnystudio.com/listener for privacy information.

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