Corn and wheat see pressure on weather, report positioning and Black Sea headline fatigue, while soybeans are supported by meal and record China imports provide hope for business. Cattle and hogs see profit taking. That’s after cattle saw record cash in NE at $190/$300. Allison Thompson of The Money Farm has details.
Corn, Wheat Down on Weather, Report Positioning, Soybeans Follow Meal Higher: Cattle See Profit Taking After $190/$300 Cash
Corn & wheat see pressure on weather, report positioning, soybeans supported by meal and China hopes. Cattle and hogs see profit taking, even after record cash in NE at $190/$300. Allison Thompson, The Money Farm.
June 07, 2023 11:25 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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