Grains End Mostly Higher on USDA’s Bullish Stocks and Soybean Acres, While Corn and Wheat Acres Rise

Grains close mostly higher after USDA Reports, where do prices go from here? Darren Frye, Water Street Solutions has report analysis and price projections, plus talks about new highs in cattle.

Grains end mostly higher with bullish surprises on corn and soybean quarterly stocks pushing old crop contracts higher. Soybean acres were also lower than expected with corn above estimates at 92 million. There wasn’t much bullish in the report for wheat but it followed row crops. So where do prices go from here? Darren Frye, Water Street Solutions has analysis and also talks about new contract highs in cattle.

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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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