Mostly lower grain and livestock futures with spillover from risk off in outside markets like the DOW and oil ahead of the FOMC meeting. More favorable weather and fast planting pace is also weighing on grains with contract lows in wheat. Randy Martinson with Martinson Ag has an update.
Ag Markets Mostly Lower with Risk Off Ahead of FOMC Meeting, Planting Pace and Weather Also Factors
Mostly lower markets with spillover from risk off in DOW and oil ahead of the FOMC meeting. More favorable weather and fast planting pace also weighs on grains. Randy Martinson with Martinson Ag.
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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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