Grain markets end lower as profit taking sets in with weather, outside markets and export demand still factors. Yet grains still rangebound. Livestock also consolidate as cattle wait for cash direction. Cash cattle trade developing after the close at $254 in the north, up $4. Chuck Shelby with Risk Management Commodities has more.
Profit Taking Hits Grains, Yet Still Rangebound: Livestock Also Consolidate with Higher Cash Cattle After the Close
Grains end lower as profit taking sets in with weather, CO and exports factors. Yet grains still rangebound. Livestock consolidate as cattle await cash. Chuck Shelby with Risk Management Commodities has more.
February 09, 2023 03:51 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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