Grains rebound after lower opening with reversal in outside markets despite the bearish CPI number and talk Russia may exit export deal. Livestock see mixed to lower trade with higher corn and despite higher cash cattle and hog trade reported. Michelle Rook talks with John Payne of Hedge Point Global Markets.
Grain Rebound On Turn in Outside Markets, Talk of Russia Pulling Out of Export Deal: Livestock Lower Despite Higher Cash
Grains reverse with outside markets amid bearish CPI, talk of Russia exiting export deal. Livestock lower despite higher cash cattle trade. Michelle Rook talks with John Payne of Hedge Point Global Markets.
October 13, 2022 02:01 PM
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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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