Grain and cattle markets rebound after Congress averts a government shutdown, plus grains were oversold. Lower prices also stimulated some Mexican and China export biz. However, can the recovery continue especially with the headwind of the higher dollar? Ted Seifried of Zaner Ag Hedge has details.
Grains and Cattle Markets Recover After Averting Government Shutdown: Will There be Follow Through Buying?
Grain and cattle markets rebound after Congress averts a government shutdown, but can the recovery continue especially with the headwind of the higher dollar? Ted Seifried of Zaner Ag Hedge has details.
October 02, 2023 02:51 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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