Brazil sent a few ships toward the United States full of soybeans. There is some worry that this will move the market here. However market analyst Jamey Kohake with Paragon Investments Inc. says it doesn’t look that way.
“We’re seeing some weather premium put in the market too, here, short-term. Soybeans right now, very, very tight supplies for the old crop.”
In cattle, Kohake thinks the trade is slowing down, “Real lackluster. Just a real sluggish trade here. Cash looks to have maybe topped out here for a few weeks. Starting to see some long liquidation occur in the market, and I think a lot of that depends if something happens in the grain report, if we get a bullish corn report or not, and how that spills over into the cattle.”