Grains closed quietly mixed after the WASDE with few changes in the balance sheets except U.S. corn. Argentina weather concerns were the biggest market mover for the week with soybean meal scoring new contract highs putting in weather premium. Cattle higher Friday, despite lower cash. Hogs had a tough down week. Michelle talks to Garrett Toay AgTraderTalk.
Grain Close Mixed After Uneventful WASDE, SA Weather in Focus: Cattle End Higher, Hogs Mixed
Grains close mixed after the WASDE with few changes except U.S. corn carryover. Argentina dryness was the big focus. Cattle higher, despite lower cash. Hogs down for the week. Garrett Toay AgTraderTalk.
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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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