Grains were lower with wheat leading the slide as moisture hits HRW areas and profit taking hitting corn and soybeans. It was also a risk off day with the slide in crude oil. Cattle ended mostly higher with strong cash and cutouts and weather supportive. Hogs set back on profit taking and the sharply lower cutouts Tuesday. DuWayne Bosse of Bolt Marketing has details.
Grains End Lower with Profit Taking, Moisture in HRW Areas: Bullish Fundamentals Support Cattle, Hogs Follow Lower Cutouts
Wheat sharply lower with moisture in HRW areas, profit taking hit corn and soybeans. Cattle ended mostly higher on bullish fundamentals. Hogs follow lower cutouts. DuWayne Bosse of Bolt Marketing has details.
February 22, 2023 02:23 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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