Corn and wheat see technical buying and short covering early after getting oversold. Soybeans try to follow with 4.4 mb of export biz. Harvest pressure will keep a lid on prices. Hogs advance with higher cutouts and China hopes, with a deeper correction in cattle eyeing the Fed decision. Randy Martinson, Martinson Ag has more.
Corn and Wheat See Technical Bounce, Beans Try to Follow: Deeper Correction in Cattle Eyeing Fed Decision, Hogs Advance
Corn and wheat are oversold see technical bounce early, beans try to follow. Hogs advance with higher cutouts. A deeper correction in cattle eyeing the Fed decision. Randy Martinson, Martinson Ag has more.
September 20, 2023 09:48 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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