Corn and soybeans higher with bull spreads working on tight cash supplies and China export biz. But what are the mixed signals we’re seeing with national cash basis? Wheat slumps on poor exports. Meanwhile crude oil has had a chart breakout, which is also pushing the dollar lower. And the red-hot cattle/beef market shows no signs of a top. Darin Newsom, Sr. Market Analyst with Barchart tackles it all!
Corn and Soybeans See Bull Spreading with China Biz and Strong Cash: Crude Oil Has a Chart Breakout, While Cattle are Red Hot!
Corn and Soybeans See Bull Spreading with China Biz and Tight Cash Markets. Crude Oil Has a Chart Breakout, While Cattle are Red Hot!
April 13, 2023 09:24 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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