Energy markets are recovering after 9-month lows earlier in the week as supply disruptions due to Hurricane Ian get worked into prices. However, the macroeconomic markets and geopolitical news are also being traded. Michelle Rook gets an update on what this means for agriculture with John Wenzel, energy expert with Stone X.
Energy Markets Continue Higher Working in Hurricane Disruptions and Geopolitical Developments
Energy markets are recovering from 9-month lows on supply disruptions due to Hurricane Ian. However, geopolitical news is also a driver. Michelle Rook gets an update with John Wenzel, of Stone X.
September 28, 2022 11:40 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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