Soybeans Higher on Demand News, Corn Sees Harvest Pressure: Cattle Lose Early Gains

Soybeans up on strong NOPA and BO. Wheat mostly higher on short covering. Corn sees harvest pressure, despite a 79 mb sale to Mexico. Live cattle higher on strong cash ideas. Randy Martinson, Martinson Ag, has more.

Soybeans hold gains on a strong NOPA crush and higher soybean oil, plus strong export inspections and meal export biz. Wheat is seeing short covering putting in war premium. Corn sees harvest pressure, despite a 79 mb sale to Mexico. Live cattle are higher with strong cash ideas and higher cutouts, feeders falter. Randy Martinson, Martinson Ag, 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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