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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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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