Soybeans setting back on profit taking, lower bean oil and disappointment about lack of China export biz confirmation. Corn and wheat still higher on weather and uncertainty about yield and the Black Sea Grain Deal. Cattle power back and could negate Wednesday’s poor technical day. While hogs consolidating before the next leg up? Ted Seifried, Zaner Ag Hedge has analysis.
Soybeans See Profit Taking, Corn & Wheat Firm on Yield and Black Sea Grain Deal Uncertainty: Cattle Recover, Hogs Consolidate
Soybeans see profit taking with lower bean oil, no China biz. Corn & wheat up weather & uncertainty about yield, Black Sea Grain Deal. Cattle see technical bounce, while hogs consolidate. Ted Seifried, Zaner Ag Hedge.
July 14, 2023 11:48 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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