Grains slide into the end of the month and pre-holiday with technical selling and positioning but a chance of rain in the southern corn belt also weighed on the markets. Cattle traded 2-sided but recovered after steady cash broke at $179 in the south, while hogs saw fund liquidation with lower cash. Chip Nellinger, Blue Reef Agri-Marketing has more.
Grains Slide End of Month with Hint of Rain: Cattle Recover with Steady Southern Cash
Grains slide on end of month, pre-holiday squaring w/a hint of rain in the forecast. Cattle recovered w/steady southern cash at $179, while hogs followed lower cash. Chip Nellinger, Blue Reef Agri-Marketing has more.
August 31, 2023 02:56 PM
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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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