Grains close mixed Friday with profit taking and Argentina rain weighing on soybeans, but all the grains posted higher weekly closes. Cattle ended higher on Friday with $156 cash in the South and were up for the week. Hogs ended mixed on Friday on bear spreading but back months built on Thursday’s reversals. Randy Martinson of Martinson Ag has more.
Grains End Mixed Friday but Were Higher for the Week: Cattle Closed Higher with $156 Southern Cash
Grains close mixed Friday. Profit taking & Argentina rain weigh on soybeans, but all the grains had higher weekly closes. Cattle were up on $156 southern cash. Randy Martinson, Martinson Ag has more.
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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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