Funds Buy Corn & Beans, Sell Wheat with Light Holiday Volume: Cattle Consolidate with Higher Corn, Milk Lower

Corn & beans up on holiday technical buying, wheat sees technical selling with rain chances. Milk lower w/ record COVID cases in China, cattle consolidate. Michelle Rook w/ Bryan Doherty of Total Farm Marketing.

Corn and beans end higher with technical buying on light holiday volume, exports. Wheat see technical selling with rain in the forecast. Livestock were 2-sided with cattle consolidating on higher corn, while hogs were higher on fund buying with strong exports. Michelle Rook is with Bryan Doherty of Total Farm Marketing.

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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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