Soybeans higher with 9.2 mb of China export biz and after yesterday’s reversal and hold support above the 100-day MA, wheat sets back on technical selling, with corn caught in the middle. Markets also positioning ahead of the WASDE. Cattle recovering with higher cash ideas and higher boxed beef values, while hogs see profit taking despite the discount to the index. Chuck Shelby, Risk Management Commodities, has details.
Soybeans Up with China Biz After Reversal, Corn and Wheat Lower Ahead of Report: Cattle Bounce with Strong Products Values
Soybeans up on China export biz and after holding support, wheat & corn lower squaring pre-WASDE. Cattle recover with higher product values, hogs consolidate. Chuck Shelby, Risk Management Commodities has more.
August 09, 2023 09:38 AM
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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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