Early technical selling in corn and wheat after lower weekly closes, report positioning and talks progressing on the Black Sea Export deal. Soybeans rebound with meal making new highs on Argentina crop concerns. Cattle firmer with new highs in feeders on strong cash cattle trade on Friday. Profit taking in hogs.
Soybeans Rebound with New Highs in Meal, Corn and Wheat See More Technical Selling: Cattle Firm with Higher Cash, Hogs See Profit Taking
Technical selling in corn & wheat, report positioning and hope on the Black Sea Export deal. Soybeans rebound w/meal making new highs on Argentina crop concerns. Cattle up with strong cash. Profit taking in hogs.
March 06, 2023 09:36 AM
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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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