Grains two-sided with profit taking and hedge pressure being offset by weather and global supply concerns. Live cattle make new highs the crash, hogs pushed by a rising index with Aug above $100. Mike Minor, Professional Ag Marketing.
Grains 2-Sided With Profit Taking vs. Weather and Global Supply Concerns: Cattle Make New Highs Then Crash, Hogs Pushed by Cash
Grains two-sided with profit taking & hedge pressure offset by weather & global supply concerns. Live cattle make new highs then crash, hogs pushed by a rising cash index. Mike Minor, Professional Ag Marketing.
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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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