On Wednesday, wheat scores a key reversal after a drone strike at the Kremlin, which pulls corn and soybeans back higher as well. Will this bottom the grain markets? Will the Fed pause further interest rate increases to signal specs to get back into commodities? Plus, how much more will cattle correct? Ted Seifried of Zaner Ag Hedge has the answers.
Grains Reverse on Russia War News, But Is It the Bottom?
A key reversal in wheat after a drone strike at the Kremlin pulls corn and soybeans higher as well. AgDay’s Michelle Rook chats with Ted Seifried about the headlines and the market response.
May 03, 2023 03:08 PM
Related Stories
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
