Corn and soybeans higher on report positioning and corrective buying end of quarter. Wheat falls with higher dollar. Basis levels have weakened substantially with the low river levels. Cattle fade an early bounce. Nick Tsiolis, Farmers Keeper, has more.
Markets Lean Higher Except Wheat and Cattle with Corrective Buying, Report Squaring: Grain Basis Weakens with Lower River
Row crops higher on report squaring, corrective buying end of quarter. Wheat falls with higher dollar. Basis levels weak with the low river levels. Cattle fade early bounce. Nick Tsiolis, Farmers Keeper, has more.
September 27, 2023 10:01 AM
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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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