Grains firmer to start with new contract highs in soybean meal on Argentina weather concerns supporting soybeans, corn and wheat see corrective buying. More profit taking in cattle with lower cutouts, while hogs are seeing a bounce with a rebound in cutouts and firmer cash. Michelle Rook has analysis.
Grains Higher with Corrective Buying in Corn and Wheat, SA Weather Supports Soybeans and Meal: Lower Cutouts Hit Cattle, Hogs Bounce
Soybeans higher with new contract highs in soybean meal on Argentina weather, corn and wheat see corrective buying. More profit taking in cattle w/ lower cutouts, while hogs up. Michelle Rook has analysis.
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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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