Grains See More Fund Selling, Taking Out Major Support on Risk Off and Weather: Profit Taking in Cattle and Hogs

Grains down on technical selling w/a risk off day, after taking out major chart support, weather is also bearish. Cattle see profit taking awaiting COF, with short covering in hogs. Kent Beadle, Paradigm Futures.

Grains lower on technical selling with a risk off day and after taking out major chart support, weather is also bearish. Cattle see more profit taking ahead of the COF, with short covering in hogs. Kent Beadle, Paradigm Futures.

AgWeb-Logo crop
Related Stories
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.
Read Next
Get News Daily
Get Market Alerts
Get News & Markets App