Grains continue lower with profit taking and hedge selling with improved rain chances, but corn and wheat exports were also poor. Cattle recovering with lower corn , tight supplies and after holding key chart support Thursday, despite lower cash. Market is awaiting the Cattle on Feed Report. Kevin Duling of KD Investors.
Grains See More Profit Taking on Improved Rain Chances, Poor Corn & Wheat Exports: Cattle Supported by Lower Corn Ahead of COF
Grains continue lower with profit taking and hedge selling with better rain chances. Cattle recovering with lower corn but positioning ahead of the Cattle on Feed Report. Kevin Duling of KD Investors has more.
June 23, 2023 11:30 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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