Grain prices mixed early with corn and soybeans seeing a corrective bounce and getting help from the energy sector, while wheat is also seeing profit taking with new highs in the dollar and poor exports. Livestock are seeing early pressure on continued consolidation and lower product values, the higher dollar also is negative. Michelle Rook gets analysis with Rich Nelson of Allendale.
Grain Prices Open Mixed with Corrective Action, Livestock Under Pressure: News High in Dollar Eyed
Grain prices mixed with a corrective bounce in row crops, profit taking in wheat with new highs in the dollar. Livestock lower on consolidation. Michelle Rook gets analysis with Rich Nelson of Allendale.
September 22, 2022 08:53 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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