Livestock and soybeans end lower caught up in a risk off day in outside markets which caused fund liquidation. That muted the rally in corn after 26.3 mb of export business to China. Wheat saw more short covering. Rich Nelson of Allendale has details, plus the results of their acreage survey.
Funds Sell in Soybeans, Livestock as Risk off in Outside Markets Spills Over: Corn, Wheat Buck Trend with China Export Biz
Livestock and soybeans lower on fund liquidation in a risk off day in outside markets. That muted the rally in corn after 26.3 mb of export biz to China. Wheat saw short covering. Rich Nelson, Allendale has more.
March 15, 2023 02:54 PM
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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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