Grains open mixed and then slide on weather, technical and commercial selling end of month, plus poor export demand which is indicated by the spreads and basis. Cattle and hogs and even the dollar index continue choppy and sideways. So where are those markets headed? Darin Newsom, Barchart Sr. Market Analyst has details.
Grains Slide on EOM Fund and Commercial Selling, Exports, Weather: Cattle, Hogs and Dollar Chop
Grains slide on weather, technical and commercial selling and poor demand. Cattle and hogs and even the dollar index continue choppy and sideways. Darin Newsom, Barchart Sr. Market Analyst has details.
August 31, 2023 09:18 AM
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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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