Grains lower seeing poor exports, the higher dollar, harvest pressure and concerns about South American competition causing fund selling, with soybeans breaking support. Cattle are mixed despite $1 better cash trade, while hogs are seeing follow through corrective buying and stronger cutouts supportive. Michelle Rook is joined by Mark Schultz of Northstar Commodity.
Grain Lower with Poor Exports, Higher Dollar, Harvest Pressure Causing Fund Selling: Cattle Mixed Despite Higher Cash, Hogs Strong
Grains lower with poor exports, the higher dollar and harvest pressure. Cattle are mixed despite $1 better cash trade, while hogs are higher. Michelle Rook is joined by Mark Schultz of Northstar Commodity.
October 06, 2022 11:24 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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