Markets are mostly higher except wheat. Corn and soybeans continue to recover on short covering, strong meal on Argentina crop rating slide. Can they exceed 50% retracements? Cattle back higher with higher cash and putting in weather premium, hogs higher but still looking for direction. Scott Kooima of Kooima Kooima Varilek has details.
Corn and Beans See More Short Covering: Cattle Back Higher with Strong Cash, Putting in Weather Premium
Corn, soybeans see more short covering, w/strong meal & drop in Argentina crop ratings. Cattle up with strong cash, putting in weather premium, hogs up for now. Scott Kooima of Kooima Kooima Varilek has details.
March 03, 2023 11:27 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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