A mostly lower day except old crop soybeans and meal with some commodity wide selling. Profit taking in hogs and cattle despite record highs on fed and live futures as well as northern cash ($190/$300). Weather was a little more bearish for row crops with some rain and cooler temps in the extended and less rain in HRW areas for harvest. Jeff Hoogendoorn with Professional Ag Marketing joins us from World Pork Expo.
Markets Mostly Lower with Profit Taking in Hogs & Cattle Despite Record Highs in Cash: Grains Trade Weather
Markets mostly lower on commodity wide selling. Profit taking in hogs and cattle, despite record highs in cattle futures and No. cash. Grains also traded weather. Jeff Hoogendoorn, Professional Ag Marketing.
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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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