Soybeans 2-Sided with Product Tug of War, Disappointing Follow Through on Corn Reversal: Cattle Correction Continues

Soybeans 2-sided with mixed products. Corn disappoints after the reversal, wheat mixed. Cattle correct with equities; hogs see profit taking. Chip Nellinger, Blue Reef Agri-Marketing has more.

Soybeans 2-sided with profit taking in meal but higher bean oil. Corn sees little follow through after the reversal, while wheat is mixed even with the sharply lower dollar on the CPI data. Cattle continue to correct pushed by the equities, while hogs see profit taking after running into chart resistance. Chip Nellinger, Blue Reef Agri-Marketing has more.

AgWeb-Logo crop
Related Stories
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.
Wheat futures were up 30 to 35 cents early Wednesday adding risk premium as Russia and Ukraine attacks have escalated says Jamie Gieseke with Paradigm Futures.
Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Get News Daily
Get Market Alerts
Get News & Markets App