Grains end mostly lower on technical selling and weather, what will it take to retest Tuesday’s highs? The Fed takes a pause but indicates more rate hikes coming. And profit taking and spreading continued in cattle and hogs. Chuck Shelby, Risk Management Commodities has details.
Grains Lean Lower on Technical Selling, Weather, Fed Move: Cattle and Hogs See More Profit Taking
Grains lean lower on technical selling & weather, what will it take to retest Tuesday’s highs? The Fed pauses, says more hikes coming. And profit taking in cattle and hogs. Chuck Shelby, Risk Management Commodities.
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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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