Corn and beans end steady to higher trading weather, but also seeing profit taking and hedge selling when Dec corn got above $6 and Nov soybeans broke through $13.50. Wheat was mixed on spreading. Cattle consolidated and took out chart support, while hogs continued to rally pushed by cash. DuWayne Bosse of Bolt Marketing has details.
Row Crops End Steady to Higher Trading Weather, But Seeing Profit Taking: Cattle Consolidate Take Out Support, Hogs Rally
Corn and beans end steady to higher trading weather but see profit taking. Wheat mixed on spreading. Cattle consolidated breaking chart support, while hogs rally pushed by cash. DuWayne Bosse, Bolt Marketing.
June 20, 2023 02:38 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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