Row crops set back on end of month and pre-holiday profit taking plus a little change in the extended weather. Wheat ended mixed but is Chicago wheat forming a bottom yet? Where is the cotton markets headed? And cattle also see profit taking ahead of cash, with short covering in hogs. Darren Frye, Water Street Solutions, has details.
Row Crops Lower on Profit Taking & Weather, Wheat Mixed: Cattle Consolidate Ahead of Cash with Short Covering in Hogs
Row crops lower on profit taking and weather, with wheat mixed and cotton higher. Cattle also see profit taking ahead of cash, short covering in hogs. Darren Frye, Water Street Solutions, has more.
August 30, 2023 02:57 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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