Grains are higher putting in war premium with the Black Sea Grain Initiative uncertain, but wheat is pricing in crop concerns with the wheat tour in Kansas this week and more rain in spring wheat areas. Corn and soybeans are following. Live cattle are consolidating after a higher week, while feeders and hogs are strong. Randy Martinson, Martinson Ag has details.
Grains Rally on Black Sea Grain Deal Uncertainty and Crop Concerns on Wheat: LC Consolidate, Feeder and Hogs Up
Grains up putting in war premium w/the Black Sea Grain deal uncertain, but wheat is pricing in crop concerns. LC consolidate after a higher week, feeders and hogs strong. Randy Martinson, Martinson Ag. has details.
May 15, 2023 09:08 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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