Soybeans end higher and back above the August lows on profit taking, along with corn which got a boost from the Mexican export biz. Markets position ahead of the USDA reports Friday but are the harvest lows in? Wheat was mixed on spreads. Cattle consolidated, digesting the COF but will the market now retest the highs? Are the macro markets preparing for a government shutdown? Alan Brugler, Brugler Marketing, covers it all!
Corn and Beans Higher on Profit Taking, Report Squaring, Export Biz: Cattle Digest the COF, as Macros Eye Govt. Shutdown
Soybeans & corn up on profit taking, report positioning and MX corn export biz, wheat mixed. Cattle consolidate, digesting the COF. Macro markets fear a govt. shutdown. Alan Brugler, Brugler Marketing, covers it all!
September 25, 2023 04:59 PM
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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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