Grains Lean Lower on Technical Selling, Profit Taking in Beans: Cattle Consolidate, While Hogs See More Selling Pressure

Grains mostly lower on follow through technical selling and profit taking in beans. Cattle 2-sided with slight consolidation after new highs. Hogs lower on rising supplies. DuWayne Bosse of Bolt Marketing has more.

Grains mostly lower with follow through technical selling and optimism about the Black Sea Export Deal. Soybean see some profit taking after hitting chart resistance, despite new highs in meal. Report positioning may also be a factor. Cattle trade two sided early as breaks seem to be bought with strong fundamentals intact. Hogs lower again with rising supplies and the futures premium to the LHI. DuWayne Bosse of Bolt Marketing has details.

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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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