Cattle see more risk of fund liquidation w/weaker cash. Hogs see short covering as they’re oversold and with strong exports. Corn is following a rally in wheat with strong exports and that is pulling soybeans higher. Scott Varilek, Kooima Kooima Varilek has details.
Wheat Rally Pulls up Row Crops: Cattle See Risk Off Fund Selling with Weak Cash, Hogs Bounce with Strong Exports
Cattle see risk off fund liquidation & weaker cash. Hogs see short covering w/strong exports. Corn follows a rally in wheat with strong exports, which pulls beans up. Scott Varilek, Kooima Kooima Varilek has more.
October 05, 2023 11:43 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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