Grains end sharply lower despite the lowest crop ratings on corn and beans since 1988. Funds took profits with rain in the forecast, end of quarter and USDA reports coming up. Cattle had a nice bounce with the selloff in corn, but has the market finished its correction? And are hogs near a top after the big rally? Alan Brugler, Brugler Marketing has analysis.
Grains Sharply Lower on Rain Chances, Report & EOQ Profit Taking: Cattle Bounce with Lower Corn
Grains end sharply lower as funds took profits on possible rain, end of quarter and USDA reports. Cattle bounced but has the market finished its correction and are hogs near a top? Alan Brugler, Brugler Marketing.
June 27, 2023 02:40 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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