Corn and wheat under pressure with more fund selling taking out support on demand concerns, but weather and lower crude oil are also factors. However, Russia could be the wild card. Soybeans see a corrective bounce. Cattle and hogs trade 2-sided, but have seen some technical selling watching cash and debt ceiling discussions. Jim McCormick with AgMarket.Net has details.
Corn, Wheat See More Fund Selling, Corrective Bounce in Soybeans: Cattle and Hogs 2-Sided
Corn and wheat under pressure with more fund selling taking out support. Soybeans see a corrective bounce. Cattle and hogs see more technical selling watching cash. Jim McCormick with AgMarket.Net.
April 26, 2023 11:49 AM
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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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