Row crops bounce Friday but are lower for the week on fund selling and profit taking ahead of the holiday, plus weather. Wheat ends lower Friday and for the week, hitting contract lows. Cattle fall on fund selling and cash disappointment, with a bounce in hogs. Chuck Shelby, Risk Management Commodities, has more.
Grains Down for the Week as Funds Sell Pre-Holiday: Cattle Down with Disappointing Cash, Hogs Bounce
Row crops lower for the week on pre-holiday profit taking, weather. Wheat hits contract lows. Cattle see fund selling on cash disappointment, hogs bounce. Chuck Shelby, Risk Management Commodities, has more.
September 01, 2023 02:59 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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