Grains continue in the red with more fund selling and another China corn cancellation. July corn taking out $6, new lows in wheat. Cattle futures two sided still consolidating with limited cash news. Can hogs build on Wednesday’s strong close? Scott Varilek with Kooima Kooima Varilek has details.
Grains in the Red Again with Technical Selling, China Cancels Corn: Cattle Consolidate with Limited Cash News
Grains see more fund selling, on weather, China corn cancellation. Cattle futures consolidated with limited cash news. Can hogs build on Wed. strong close? More with Scott Varilek, Kooima Kooima Varilek.
April 27, 2023 09:25 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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