Grain markets ended higher on corrective buying after corn and soybeans held support but were also putting in weather premium. Wheat followed. How much of a relief rally can we expect? Cattle consolidated after putting in a double top and with a neutral COF report, hogs hit contract lows. Naomi Blohm, Total Farm Marketing has more.
How Far Can Grains Extend This Weather/Recovery Rally?: Profit Taking in Cattle, Contract Lows in Hogs
Corn and soybean markets were up on corrective buying and putting in weather premium. Wheat followed. Cattle saw profit taking after a neutral COF report, hogs hit contract lows. Naomi Blohm, Total Farm Marketing.
May 22, 2023 02:41 PM
Related Stories
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.
Read Next
New state restrictions and a proposed AFIDA overhaul could reshape land deals, reporting, and due diligence for farmers.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
