After a choppy session, grains end higher on weather forecast, Drought Monitor, WASDE positioning, the rally in soybean oil and technical buying in wheat. Cattle ended lower but did we confirm the key reversals and a top? Hogs continue to consolidate after the recent recovery with the lack of new buying and a bullish story. Dave Chatterton of Strategic Farm Marketing has analysis.
Grains End Higher on Weather Forecast, Drought Monitor, WASDE Positioning: Cattle End Lower But Rally May Not be Over
Grains end higher on weather forecast, Drought Monitor, WASDE positioning. Cattle markets lower but did we confirm a top? Hogs consolidate after the recent recovery. Dave Chatterton, Strategic Farm Marketing.
June 08, 2023 02:25 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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