Grains drift into the close with profit taking end of quarter and after many contracts hit chart resistance. What does the trade need to see in the reports tomorrow to not continue the sell off? Live cattle make new contract highs with sharply higher cash, but how much higher will the market go? And cotton rallied looking for lower acres Friday. John Payne, Hedge Point Global Markets has details.
Grains See Profit Taking EOQ and Ahead of Reports, but Cotton Rallies: Live Cattle Make New Highs With Sharply Higher Cash
Grains drift on profit taking after many contracts hit chart resistance. Live cattle make new contract highs on sharply higher cash. Cotton rallied anticipating lower acres. John Payne, Hedge Point Global Markets.
March 30, 2023 02:21 PM
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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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