Grains still mostly higher still pricing in the USDA numbers but wheat is also putting in some weather premium. Old crop corn is seeing pressure on farmer selling and slow export inspections. Live cattle made new contract highs then saw profit taking and hedge pressure, while hogs are seeing some short covering. Kent Beadle of Paradigm Futures has details.
Grains Mostly Higher Pricing in USDA Reports, Weather, Higher Crude Oil: Cattle Seeing Profit Taking and Hedge Pressure
Grains mostly higher pricing in USDA numbers and weather. Old crop corn sees farmer selling, while live cattle made new contract highs then saw profit taking and hedge pressure. Kent Beadle of Paradigm Futures.
April 03, 2023 11:32 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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