AgDay TV Markets Now: John Heinberg, Total Farm Marketing, says grains slide on profit taking after hitting chart resistance, Brazil rain chances and outside markets.
AgDay TV Markets Now: John Heinberg says Grains Slide on Profit Taking, Brazil Rain Chances, Outside Markets
AgDay TV Markets Now: John Heinberg, Total Farm Marketing, says grains slide on profit taking after hitting chart resistance, Brazil rain chances and outside markets.
November 15, 2023 05:22 PM
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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.
Wheat futures were up 30 to 35 cents early Wednesday adding risk premium as Russia and Ukraine attacks have escalated says Jamie Gieseke with Paradigm Futures.
Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
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