Grains start higher after higher weekly closes, then fade as the market is also trading weather, planting progress and the WASDE. Cattle bounce after a lower week, while hogs trade 2-sided trying to consolidate after a tough down week. Tomm Pfitzenmaier with Summit Commodity Brokerage has more.
Grains Start Higher After Up Week, Then Fade: Cattle Try to Bounce After a Lower Week, Hogs 2-Sided
Grains start higher after higher weekly closes, but fade trading weather, planting progress, WASDE. Cattle bounce after a lower week, while hogs see 2-sided trade. Tomm Pfitzenmaier w/Summit Commodity Brokerage.
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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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