A better-than-expected CPI number pulled money into financial markets and out of most commodities, despite the sharply lower dollar. Poor exports added pressure. Michelle Rook talks with DuWayne Bosse of Bolt Marketing.
Commodities Mostly Lower Except Cattle with Better Than Expected CPI and Money Flowing into Financial Markets
A better-than-expected CPI number pulled money into financial markets and out of most commodities, despite the sharply lower dollar. Poor exports added pressure. Michelle Rook w/ DuWayne Bosse, Bolt Marketing.
November 10, 2022 01:46 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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