Corn and soybeans lower early with profit taking and slow exports, while wheat is trying to hold weather premium. Livestock seeing profit taking to start after the big up day Wednesday and new contract highs in live cattle, plus beef exports were poor. However, feeders and hogs rebound with EOY and report positioning. Michelle Rook breaks it down.
Grain and Livestock Futures Mixed: EOY Profit Taking and Disappointing Exports
Grains mixed with profit taking and slow exports weighing on row crops, wheat supported by weather. Livestock open lower then turn mixed with holiday, EOY and report positioning. Michelle Rook breaks it down.
December 22, 2022 09:36 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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