Markets end mostly lower with risk off fund selling. Soybeans and wheat also weighed on by weather, fast planting, Brazil prices. Corn held chart support but for how long? Cattle consolidating waiting for cash direction, with hogs failing waiting for a cash bottom. Oliver Sloup, Blue Line Futures has details.
Mostly Lower Closes with Risk Off Fund Selling, Weather, Planting Pace, Brazil Prices Weigh on Grains: Cattle Consolidate Ahead of Cash
Markets end mostly lower with risk off fund selling, weather, fast planting, Brazil prices. Cattle consolidating waiting for cash direction, with hogs failing. Oliver Sloup, Blue Line Futures has details.
April 25, 2023 02:15 PM
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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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