Grains ended mixed with corn rallying on dry weather but how much weather premium does the market need to put in? Soybeans couldn’t follow after failing technically. Rains in the South weighed on both wheat and cotton. Cattle scored more contract highs with higher cash, while hogs hit new lows. Darren Frye of Water Street Solutions has analysis.
Corn Higher Putting in Weather Premium, Wheat Takes it Out & Soybeans Fail with Poor Technicals: Cattle Follow Higher Cash
Corn rallies on dry weather, but soybeans can’t follow after failing technically. Rains in the So. weighed on wheat and cotton. Cattle score more contract highs on strong cash. Darren Frye, Water Street Solutions.
May 24, 2023 03:28 PM
Related Stories
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.
Read Next
New state restrictions and a proposed AFIDA overhaul could reshape land deals, reporting, and due diligence for farmers.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
