Grains end sharply higher with limit up moves in wheat putting in risk premium on the escalating Black Sea war and hot dry weather. How high will prices run? Cattle see profit taking with higher corn and a bearish Cattle on Feed placements number. Hogs consolidate. Oliver Sloup, Blue Line Futures has details.
Grains Sharply Higher, Limit up in Wheat on War and Weather Headlines: Livestock Consolidate with Higher Feed, Bearish COF
Grains sharply higher adding risk premium on the escalating Black Sea war and hot dry weather. Cattle see profit taking on higher corn and a bearish COF. Hogs consolidate. Oliver Sloup, Blue Line Futures has more.
July 24, 2023 02:29 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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