Corn and wheat prices close higher still building some war premium, soybeans consolidate with lower soybean meal, disappointing exports and South American rains. Many of the markets still had a hangover from the Fed move including the dollar which pushed into fresh highs. Cotton and the livestock sector also suffered from recessionary fears, despite $1 higher cash cattle trade. Michelle Rook gets analysis with Shawn Hackett of Hackett Financial Advisors.
Corn and Wheat Higher Holding War Premium: Cotton, Livestock See Hangover from Fed Fears
Corn and wheat prices close higher holding war premium, soybeans consolidate with lower meal. Cotton and livestock down on Fed fears. Michelle Rook gets analysis with Shawn Hackett of Hackett Financial Advisors.
September 22, 2022 02:06 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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