Grains mostly higher on weather, anticipation of a bullish report for soybeans and talk of China soybean biz. and that is pulling up corn and wheat. Outside markets are also positive. Cattle continue to be supported on breaks with continue strong cash, with hogs pushed by higher cash and cutouts. Tomm Pfitzenmaier, Summit Commodity Brokerage.
Grains Higher on Weather, Pre-Report, China Biz Talk: Cattle and Hogs Join the Commodity Wide Risk On Rally
Grains higher with risk on outside markets, wx, ideas of a bullish report for beans, talk of China biz. Cattle supported on breaks, with hogs pushed by higher & cutouts. Tomm Pfitzenmaier, Summit Commodity Brokerage.
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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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