Wheat rallies with Russia stopping exports out of a Ukrainian port. Corn follows, but is also putting in weather premium. Soybeans consolidate with products. Cattle also see profit taking with concerns about the debt ceiling talks. Kevin Duling with KD Investors has details.
Wheat Rallies as Ukraine Export Port Blocked, Corn Follows Putting in Weather Premium: Profit Taking in Soybeans and Cattle
Wheat rallies with Russia stopping exports out of a Ukrainian port. Corn follows but is also putting in weather premium. Soybeans and cattle see profit taking. Kevin Duling with KD Investors has details.
May 23, 2023 11:35 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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