Grains open lower with outside markets like the higher dollar a negative influence, however profit taking, harvest pressure and the collapse of cash basis levels are also factors. Livestock are trying to recover after fund selling Tuesday but live cattle continue to struggle. Michelle Rook talks with Nick Tsiolis of Farmer’s Keeper.
Corn and Beans See Pressure as Dollar Rebounds: Hogs Bounce while Live Cattle Struggle
Grains open lower pressured by the higher dollar, corrective selling, harvest pressure and collapsing cash basis. Livestock try to bounce. Michelle Rook talks with Nick Tsiolis of Farmer’s Keeper.
October 05, 2022 02:37 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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