Grains end mixed with wheat slightly higher after continuing to chase Black Sea headlines. Corn and soybeans end lower on profit taking and hedge selling. Cattle make new highs then crash despite higher cash at $180 in the South and $188 to $191/$295 in the North. The Dow soared but how far will it go and what impact will it have on ag commodities? Darin Newsom with Barchart has analysis.
Wheat Slightly Higher Chasing War Headlines, Profit Taking Hits Row Crops, Cattle Make News Highs Then Crash Despite Higher Cash
Wheat ends slightly higher Thursday, but corn and soybeans finally set back. Cattle hit new highs then crashed despite higher cash. Darin Newsom with Barchart has the analysis.
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Mark Schultz of Northstar Commodity, says the corn market may be running out of sellers as the funds have liquidated a big chunk of their long position. However, it is too early to call a bottom with corn harvest still underway.
Greg McBride of Allendale says corn and soybean futures are trying to bounce as they are oversold, the key is what will it take to bottom the markets?
Randy Martinson of Martinson Ag says soybeans are trying to bounce early Tuesday with talk of China looking for more soybeans and a stabilization of the real.
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