Cattle see profit taking after a chart breakout and new contract highs in feeders Monday. Hogs consolidate but are they close to a low? Grains lower with profit taking and better than expected crop ratings, despite fresh soybean and meal export business. Brad Kooima, Kooima Kooima Varilek has details.
Cattle See Profit Taking After Chart Breakout on Feeders, Hogs Follow: Row Crops Lower on Better Than Expected Crop Ratings
Cattle see profit taking after a chart breakout, new contract highs in feeders Monday. Hogs consolidate. Grains down on profit taking, better than expected crop ratings. Brad Kooima, Kooima Kooima Varilek has more.
August 29, 2023 09:49 AM
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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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