Grains see profit taking with a slight change in the weather and a quieter Black Sea news day, but markets may have enough risk premium for now. Cattle continue to correct technically despite bullish fundamentals. Hogs pushed by cash and product but will August take out resistance on the charts? Jeff Hoogendoorn, Professional Ag Marketing covers it all.
Grains See Profit Taking Awaiting War and Weather Changes: Cattle Consolidate Despite Bullish Fundamentals, Hogs Pushed by Cash, Cutout
Grains see profit taking & may have enough risk premium for now. Cattle continue to correct technically despite bullish fundamentals. Hogs pushed by cash, product. Jeff Hoogendoorn, Professional Ag Marketing has more.
July 25, 2023 11:37 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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