Grains open lower and then quickly turn mixed with soybeans rebounding on the China export business, but also seeing report positioning and spread unwinding. Livestock strong early with the lower corn and strong chart action in cattle. Michelle Rook has details with Rich Nelson of Allendale.
Grains Open Lower then Soybeans Rebound on China Biz, Report Positioning: Livestock Futures Rally
Grains mixed with soybeans rebounding on China export news, report positioning. Livestock rally with lower corn and technical buying in cattle. Michelle Rook has details with Rich Nelson of Allendale.
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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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