Grains close mixed with soybeans still working in the bullish USDA numbers but sharply higher soybean oil and crude oil also helped. Corn and wheat both ended mixed on profit taking and hedge pressure and that also explains the action in cattle. Randy Martinson of Martinson Ag has full details.
Soybeans Rally with Bean and Crude Oil: Profit Taking Hits Corn, Wheat and Cattle
Soybeans higher still working in the bullish USDA numbers and higher soybean oil. Corn and wheat end mixed on profit taking and hedge pressure. Cattle lower on consolidation. Randy Martinson of Martinson Ag.
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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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