Soybeans end lower as China refutes a change in their COVID policy and corn followed with poor export inspections. Wheat saw light technical buying and the lower dollar supportive. A big up day in livestock on technical buying and money flow. Michelle Rook has analysis with Arlan Suderman of StoneX Financial.
Soybeans Lower as China Refutes Easing COVID Policy, Corn Follows: Technical Buying Supports Livestock and Wheat
Soybeans end lower as China refutes COVID policy change, corn followed. Wheat mostly higher on technical buying. Livestock rally big on a technical correction. Michelle Rook w/ Arlan Suderman of StoneX Financial.
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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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