Grains see early strength on holiday positioning, friendly outside markets and fresh corn and soybean export sales. Cattle are higher with steady to better cash news and report positioning, while lower cash is pressuring hogs.
Markets Mostly Higher Early, Except Hogs
Grains up on holiday positioning, friendly outside markets and fresh corn and soybean export sales. Cattle are higher with steady to better cash news and report positioning, while lower cash is pressuring hogs.
December 23, 2022 08:53 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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