Grains are mostly lower with fund selling continuing and the 10.7 mb old crop corn cancellation by China and the Black Sea Grain deal is extended another 60 days. KC wheat trades the Kansas Wheat Tour results. Livestock are mostly lower in consolidation mode, except feeders which are making new highs in the deferreds. Allison Thompson with The Money Farm has more.
Funds Sells in Grains with China Cancellation, Black Sea Grain Deal, HRW Trades Tour Results
Grains are mostly lower with fund selling on the China cancellation, Black Sea Grain deal. Wheat trades tour results. Livestock mostly lower in consolidation mode. Allison Thompson with The Money Farm has more.
May 17, 2023 09:35 AM
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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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