Livestock consolidating with higher feed prices and weak product values. However, cattle are still supported by strong cash. Grains mixed with soybeans and meal seeing a big rally on export biz and Argentina weather concerns, corn is trying to follow. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Livestock See Steep Losses with Higher Feed, Soft Product: Rally in Beans and Meal, Corn Follows
Livestock consolidating with higher feed prices and weak product values. However, cattle supported by strong cash. Grains mixed with corn following higher beans and meal. Brad Kooima, 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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