Corn, soybeans and cotton under pressure with rising COVID cases in China, lower crude oil and the higher dollar. Wheat saw a technical bounce. Live cattle end lower except December with ideas of higher cash offset by technical selling and lower cutouts. Hogs got a boost from China export hopes. Michelle Rook gets insight from Darren Frye Water Street Solutions.
Corn, Soybeans Lower with COVID Cases in China, Lower CO, Wheat Sees Technical Bounce: More Technical Selling in Live Cattle
Corn, soybeans lower w/rising COVID cases in China, lower CO and a strong dollar. Wheat sees a technical bounce. Live cattle lower on technical selling. Michelle Rook w/ Darren Frye Water Street Solutions.
November 15, 2022 06:40 AM
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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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