Corn and Wheat Slide on Technical Selling, SA Weather, Slight Bounce in Beans: Cattle Try to Recover After Monday’s Chart Damage

Corn & wheat lower on technical selling, harvest pressure, plus SA weather, soybeans see short covering. Cattle open higher but struggle to hold gains. Hogs mixed. John Heinberg, Total Farm Marketing, has more.

Corn and wheat lower on technical selling, harvest pressure in corn, the higher dollar, plus South American weather, soybeans see light short covering. Cattle open higher after an ugly technical day Monday but fail to hold gains. Hogs mixed but holding contract lows. John Heinberg, Total Farm Marketing, has more.

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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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