Corn and wheat seeing some end of year profit taking and with COVID cases surging in China, while soybeans are still holding some SA weather premium. Cattle are also supported by weather, with profit taking in the hogs. Chuck Shelby of Risk Management Commodities explains.
Grain and Livestock Futures Mixed: EOY Profit Taking, China COVID Cases, Weather Drive Markets
Corn and wheat seeing some end of year profit taking, while soybeans are building SA weather premium. Cattle are also supported by weather, profit taking in the hogs. Chuck Shelby of Risk Management Commodities.
December 29, 2022 12:31 PM
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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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