Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Is most of the bearishness already factored into prices? Live cattle chop awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag has more.
Grains Mostly Higher Bouncing Off Lows Ahead of WASDE: Live Cattle Mixed Awaiting Cash, Hogs Higher After Reversal
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
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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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