Grains start steady to slightly higher but are seeing two-sided trade. USDA Ag Outlook numbers were released but the market seems to be consolidating and looking for direction. Cattle continue to make new highs with strong cutouts and the atypical BSE case in Brazil. Hogs still consolidating. Chuck Shelby of Risk Management Commodities has more.
Grains 2-Sided Early Looking for Direction: Cattle Make New Highs on Atypical BSE Case in Brazil
Grains start steady to higher but turn two-sided looking for direction. Cattle making new highs with the atypical BSE case in Brazil. Hogs consolidating. Chuck Shelby of Risk Management Commodities has more.
February 23, 2023 09:18 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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