Grains close mostly lower with profit taking after the big rally Monday, but markets have an eye on weather and Black Sea developments. Cattle consolidate in a healthy correction, hogs pushed by strong cash and cutouts but are into chart resistance. Garrett Toay, AgTraderTalk has details.
Grains Take a Pause on Profit Taking: Cattle Continue to Consolidate, Hogs Near Recent Highs Pushed by Cash and Cutouts
Grains close mostly lower with profit taking but eye on weather and Black Sea news. Cattle consolidate in a healthy correction, hogs pushed by strong cash and cutouts. Garrett Toay, AgTraderTalk has details.
July 25, 2023 03:14 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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