Grains are trying to recover are we working on reversals and short-term lows or is this just a dead cat bounce because we’re oversold? Was wheat chasing headlines this week? Cattle continue strong with some firmer cash will it continue? And what are outside markets telling us about the economy? Darin Newsom with Barchart covers it all!
Grains Bounce But Are We Putting in Short Term Lows: Cattle Extend Grains With Firmer Cash, What About Copper?
Grains are trying to recover, but are these short term lows? Was wheat chasing headlines this week? Cattle strong with some firmer cash. And what are outside markets hinting on the economy? Darin Newsom, Barchart.
May 19, 2023 09:09 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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