Grains See Profit Taking, Hedge Selling, Slightly Better Rain Chances: Cattle Consolidate, Hogs Follow Cash Higher

Grains see light selling with a slight improvement in weather, profit taking and hedge selling after breaking resistance. Cattle consolidate, hogs gap higher pushed by cash. Randy Martinson, Martinson Ag has details.

Grains see light selling with a slight improvement in weather, profit taking and hedge selling after getting above key resistance. Cattle consolidate awaiting cash, hogs gap higher with higher cash and anticipating evidence of liquidation in the hogs and pigs report. Randy Martinson, Martinson Ag has details.

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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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