Grain and cattle markets mostly lower with risk off selling tied to the jobs data which sent the dollar higher. Grains could post higher weekly closes and corn and wheat are finding some good end user demand as prices are competitive. Meanwhile, soybean and cattle charts look tough. Kevin Duling, KD Investors, explains.
Grains and Cattle Lower as Jobs Data Hits Outside Markets: Corn and Wheat Prices Competitive, Stimulate Demand
Grain and cattle lower with risk off selling tied to the jobs data. Corn and wheat are seeing supportive end user demand. Meanwhile soybean and cattle charts look tough. Kevin Duling, KD Investors, explains.
October 06, 2023 09:29 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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