Corn and wheat see technical selling ahead of WASDE and with lack of war news. Soybeans start strong with China export biz but rains pull prices off highs. Cattle recover with product strength, hogs follow the lower cash index. Dave Chatterton, Strategic Farm Marketing has more.
Corn and Wheat See Pre-Report Selling, Rain Trims Soybean Gains from China Biz: Higher Product, Cash Ideas Push Cattle
Corn & wheat see pre-report fund selling. Soybeans trim gains from China export biz as rain falls. Cattle recover w/product strength, hogs follow a lower cash index. Dave Chatterton, Strategic Farm Marketing has more.
August 09, 2023 05:41 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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