Grains are seeing speculative selling and profit taking after hitting chart resistance and with fast planting pace. Soybeans are the downside leader with soybean oil hitting 2-year lows. Cattle are pricing in steady cash, with funds buying in hogs on firmer cash. Kent Beadle of Paradigm Futures has details.
Grains See Spec Selling and Profit Taking with 2-Year Low in Bean Oil: Livestock Supported by Cash
Grains see spec selling and profit taking, with fast planting pace. Soybeans hit by bean oil at 2-year lows. Cattle pricing in steady cash, with funds buying in hogs on firmer cash. Kent Beadle, Paradigm Futures.
May 16, 2023 11:40 AM
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
Brooke Rollins’ intent addresses a paramount question of U.S. national food security: Who decides what a crop is worth?
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
