Wheat leads the grain rally as Black Sea war news causes short covering and that spills over to support corn and beans. Corn has a chart breakout, so can it keep going? Cattle continue to correct, while hogs bounce with strong exports. Dave Chatterton, Strategic Farm Marketing, has details.
War News Rallies Wheat and Pulls up Row Crops, Corn has Chart Breakout: Cattle Continue to Correct, Hogs Bounce
Wheat sees short covering on war news, spilling over to support row crops. Corn has a chart breakout, so can it keep going? Cattle consolidate, hogs bounce. Dave Chatterton, Strategic Farm Marketing, has details.
October 05, 2023 02:22 PM
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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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