Grains continue to see fund liquidation and technical selling with wheat the anchor with improved weather in HRW areas. Cattle faded the COF initially but have rebounded with strong fundamentals. Hogs back lower. Kent Beadle of Paradigm Futures has analysis.
Fund Selling Continues Midday in Grains, Moisture Weighs on Wheat: Cattle Rebound After Fading COF, Hogs Back Lower
Grains see more fund selling, improved weather weighs on wheat. Cattle faded the COF initially but have rebounded with strong fundamentals. Hogs back lower. Kent Beadle, Paradigm Futures 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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