Grains mixed with profit taking in wheat, while new contract highs in soybean meal supporting soybeans and corn is following. Cattle see follow through strength after higher cash, with hogs trying to follow but will the rally hold? Allison Thompson of The Money Farm has the answers.
Profit Taking in Wheat, but Contract Highs in Meal Support Soybeans, Corn Follows: Livestock Firm with Higher Cash Cattle
Grains mixed with profit taking in wheat, contract highs in meal supporting soybeans and corn is following. Cattle see strength after higher cash, with hogs firm . Allison Thompson of The Money Farm has more.
February 13, 2023 08:55 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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