Grains Strong as Congress Steps in to Avert Rail Strike, Positive China Demand News: Cattle Consolidate

Grains up w/ soybeans making new highs for the move as Congress votes to avert the rail strike, China demand news supportive. Cattle consolidating, short covering in hogs. Kent Beadle, Paradigm Futures has details.

Grains higher early with soybeans making new highs for the move as Congress steps in to avert the rail strike, China soybean biz and possible relaxation of their COVID policy. Argentina weather also supportive. Cattle consolidating with a short covering bounce in hogs. Kent Beadle of Paradigm Futures joins Michelle Rook with details.

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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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