Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock were mostly lower except nearby live cattle which were held up by steady cash ideas. Vince Boddicker with Farmers Trading Company has more.
Commodity Wide Fund Selling Hits Grains, Plus China Cancellation, Black Sea Grain Deal, Big Crop
Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock mostly lower except nearby LC, on steady cash ideas. Vince Boddicker, Farmers Trading Company.
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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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