Grains mostly higher as the markets try to assess the weekend rains and forecast ahead, plus upcoming crop ratings and reports. Wheat is seeing short covering, but political uncertainty in Russia over the weekend with the Wagner Group is also supportive. Cattle set back after the COF with lower beef and cash values. Hogs see fund buying with stronger fundamentals. Outside markets are mixed. Darin Newsom with Barchart has more.
Grains Mostly Higher Assessing Rains, Wx, Russia Political Uncertainty: Cattle Lower After COF, Hogs Follow Index Higher
Grains mostly higher except Dec corn assessing rains, Russia headlines. Cattle set back after COF and lower cash and beef last week, hogs strong. Outside markets quiet. Darin Newsom covers it all.
June 26, 2023 09:11 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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