Corn and soybeans end higher on weather and yield concerns after the Pro Farmer crop estimates and with new export biz. Wheat sells off ahead of first notice day. Cotton also struggles, but livestock stage a strong rally. John Payne, Hedge Point Global Markets breaks it down.
Row Crops Higher on Weather & Yield Concerns, Wheat and Cotton Struggle, While Livestock End Strong
Row crops up on weather, yield concerns and with new export biz. Wheat sells off ahead of first notice day. Cotton also struggles, but livestock stage a strong rally. John Payne, Hedge Point Global Markets has more.
August 28, 2023 03:07 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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