Grains continue lower with plenty of bearish news including fast planting, China corn cancellations, WASDE positioning and risk off outside markets. Live cattle are mixed awaiting cash, while hogs are also mixed trying to recover. DuWayne Bosse, Bolt Marketing has details.
Grains Pressured by Fast Planting, WASDE, China Cancellation, Outside Markets: Cattle and Hogs Mixed on Consolidation
Grains lower on fast planting, China corn cancellations, WASDE positioning, risk off outside markets. Live cattle mixed awaiting cash, while hogs are consolidating. DuWayne Bosse, Bolt Marketing has details.
May 09, 2023 11:33 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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