Live cattle score new contract highs early on weather and the COF report reaction, then set back on hedge pressure. Hogs also hit new highs after the report. Corn and soybeans are putting in SA weather premium but will it hold? Brad Kooima of Kooima Kooima Varilek has analysis.
Grains Mostly Higher Putting in SA Weather Premium: Livestock Mixed After New Highs in LC and LH
LC hit new highs on weather and the COF report, then see hedge pressure. Hogs also hit new highs after the report. Row crops put in SA weather premium. Brad Kooima of Kooima Kooima Varilek has analysis.
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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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