Grains and hogs see more risk off technical selling ahead of the Fed decision, with profit taking in wheat following the Black Sea grain deal extension. May soybeans are still holding the 200 day MA. Cattle rebound but can we stage a recovery rally? Oliver Sloup of Blue Line Futures has analysis.
Grains and Hogs See More Risk Off Selling Ahead of the Fed Decision: Cattle Recover but Will it Last?
Grains, hogs see more risk off technical selling ahead of the Fed decision, profit taking in wheat w/Black Sea grain deal extended. Cattle rebound but can we build on it? Oliver Sloup of Blue Line Futures has more.
March 21, 2023 02:06 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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