Soybeans higher on extended weather and export biz, with corn pulled down by wheat, weekend rains, poor technicals and higher production ideas. Wheat still digesting bigger ending stocks and poor demand. Profit taking in crude oil. Cattle consolidating awaiting cash direction, with hogs lower following cutouts. Randy Martinson, Martinson Ag has details.
Soybeans Supported by Weather, Export Biz While Corn is Down with Wheat, Technicals: Crude Oil and Cattle Consolidate
Soybeans up on weather and export biz, with corn pulled down by wheat, poor technicals. Profit taking in crude oil. Cattle consolidating awaiting cash direction. Randy Martinson, Martinson Ag has details.
August 14, 2023 11:31 AM
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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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