Grains see a corrective bounce with help from outside markets like the lower dollar, but still digesting the WASDE data and watching weather. Cattle confirm the reversal with follow through selling, but will it dampen cash? Hogs bounce on higher cash and China hopes. DuWayne Bosse, Bolt Marketing has more.
Grains Higher on Technical Bounce, Lower Dollar, Outside Markets & Watching Weather: Cattle Confirm Reversal, While Cutouts Support Hogs
Grains see a corrective bounce with help from outside markets like the lower dollar. Cattle confirm the reversal with follow through selling. Hogs bounce on higher cash. DuWayne Bosse, Bolt Marketing has more.
July 13, 2023 05:23 PM
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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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