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.
July 20, 2023 06:14 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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