Soybeans Extend Gains Working in Lower Acres, Corn and Wheat Lower: Feeders Hit More Contract Highs

Soybeans higher digesting lower acres but end off highs on profit-taking, corn & wheat lower. Feeders make contract highs, LC see profit taking, bull spreads continue in hogs. Chip Nellinger, Blue Reef Agri-Marketing.

Soybeans extend gains early digesting lower acres but end off highs on profit-taking, with corn and wheat lower on light holiday trade. Feeders make new contract highs, while live cattle see profit taking, bull spreads continue in hogs. Chip Nellinger, Blue Reef Agri-Marketing has more.

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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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