Grains mixed with some profit taking, hedge selling, slow exports and shrinking drought being offset by weather and war concerns. Cattle higher with the softer corn and higher cash, strong exports and bullish report ideas, with the cash index also pushing hogs. Scott Varilek, Kooima Kooima Variilek has more.
Grains Mixed With Hedge Pressure, Profit Taking vs Weather, War Concerns: Cattle and Hogs Get Push From Lower Corn, Higher Cash
Grains mixed with profit taking, hedge selling offset by weather and war concerns. Cattle higher with the softer corn and higher cash ideas, with the LHI also pushing hogs. Scott Varilek, Kooima Kooima Variilek.
July 20, 2023 09:18 AM
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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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