Grains have had an ugly week. Soybeans are seeing some corrective buying after holding support and with higher meal. Wheat is trying to consolidate but more pressure in corn with demand concerns and after taking out chart areas. Cattle trade 2-sided with a lack of cash news and watching economic reports. Allison Thompson with The Money Farm has analysis.
Grains Mixed Trying to Consolidate After an Ugly Week: Cattle 2-Sided with Lack of Cash Direction
Grains have had an ugly week. Soybeans are seeing some corrective buying, wheat is trying to consolidate but more fund selling in corn. Cattle trade 2-sided on a lack of cash news. Allison Thompson, The Money Farm.
April 28, 2023 09:07 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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