Grains ended mostly lower with some speculative profit taking, working in SA weather, precip in HRW areas and outside markets influence. Cattle saw a healthy correction awaiting cash news, while hogs were supported by ASF news and the bottoming cash market. Garrett Toay of AgTradeTalk has analysis.
Grains Lower on Profit Taking, Keeping an Eye on SA and U.S. Weather: Cattle Consolidate While Cash, ASF Supports Hogs
Grains ended mostly lower with profit taking, with an eye on weather and outside markets. Cattle consolidate, while hogs were supported by ASF news and bottoming cash. Garrett Toay of AgTradeTalk has analysis.
February 14, 2023 02:06 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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