Cattle open strong with more new contract highs in fed and feeders following higher cash trade, but keeping an eye on debt ceiling talks. Hogs gap lower into contract lows again. Grains are mixed with corn up slightly on weather and despite poor exports. Soybeans have been a reluctant follower. Scott Varilek, Kooima Koomia Varilek.
Cattle Make New Highs Following Strong Cash, But Hogs Gap Into Contract Lows: Grains Mixed on Weather and Exports
Cattle open strong with contract highs following higher cash trade. Hogs gap lower into contract lows again. Grains are mixed watching weather and exports. Scott Varilek, Kooima Koomia Varilek.
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Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
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