Corn and beans see a dead cat bounce Friday but are both lower for the week and so is wheat as fund sold and took out weather and war premium. Cattle see a strong close Friday and for the week with some limited but higher northern cash. Hogs have a lower weekly close, so is that confirming a top? Mark Schultz, Northstar Commodity has more.
Dead Cat Bounce Friday in Row Crops But All the Grains Lower for the Week: Cattle Higher Following Cash
Row crops bounce Friday but all the grains are lower for the week and so are hogs. Cattle close strong Friday and for the week on the heels of better Northern Cash. Mark Schultz, Northstar Commodity explains.
August 04, 2023 02:37 PM
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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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