Grains try to firm up after hitting chart retracement levels and drought expands but fight rains on the radar and forecast and reports. So have the markets taken out too much weather premium? Cattle start firmer then fade with higher corn and profit taking. Hogs also consolidate before the report. DuWayne Bosse with Bolt Marketing has more.
Grains Try to Bounce as Retracements Hit, Trade Weather, Drought, Reports: Cattle and Hogs Consolidate
Grain try to bounce after hitting retracement and as drought expands, pre-report. Cattle consolidate with higher corn, hogs also set back before the report. DuWayne Bosse, Bolt Marketing.
June 29, 2023 10:13 AM
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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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