Grains see some early strength with soybeans building on the strong close over $15 yesterday and higher meal prices, exports were also supportive of the grains. Cattle futures continue to show bullish optimism in the deferreds, but cash will be important for the nearbys. April lean hogs should find support around $80. That’s according to John Payne of Hedge Point Global Markets.
Grains Higher with Export News and Technical Buying with Soybeans Above $15: Livestock Under Pressure with Profit Taking in Cattle
Grains and cotton higher with technical buying and supportive export news. Cattle seeing profit taking awaiting cash. Hogs also lower. John Payne of Hedge Point Global Markets.
January 26, 2023 09:01 AM
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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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