Live cattle start higher then consolidate ahead of COF, while corn is pushing feeders back into contract highs. Hogs continue to consolidate despite stronger cash. Grains start off with more fund selling, and corn is getting pulled down by wheat, but soybeans are trying to recover with bean oil. Scott Varilek, with Kooima Kooima Varilek.
Live Cattle 2-Sided Ahead of COF, With Corn Pushing Feeders: Funds Sell in Wheat, Corn and Beans Try to Recover
Live cattle 2-sided ahead of COF, corn pushes feeders higher. Hogs consolidate despite stronger cash. More fund selling in corn and wheat, but soybeans are try to recover. Scott Varilek, Kooima Kooima Varilek.
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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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