Grains end mixed with report positioning and profit taking in soybeans, meal and bean oil. Outside markets were also bearish with the higher dollar and lower crude oil. Live cattle consolidated under new highs awaiting cash with new highs again in feeders. Hogs continue to try to find a bottom. Brian Grete with Pro Farmer has details.
Grains End Mixed with Profit Taking and Report Positioning: Live Cattle Consolidate Await Cash, Deferred Hogs Fail
Grains end mixed with report positioning and profit taking in soybeans, meal and bean oil. Cattle consolidate under new highs awaiting cash. Hogs continue to try to find a bottom. Details w/Brian Grete of Pro Farmer.
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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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