Row crop futures lower on profit taking and weather initially but now seeing some risk off selling and that is pulling wheat down. That has also eroded early strength in cattle and hogs. Chuck Shelby with Risk Management Commodities has more.
Corn and Beans Down on Profit Taking, Weather to Start but Risk Off in Outside Markets Now Pulling Most Commodities Lower
Corn and beans lower on profit taking & weather initially but seeing risk off selling and that’s pulling wheat down. That has also eroded early gains in livestock. Chuck Shelby, Risk Management Commodities.
April 05, 2023 09:40 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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