Grains lower again with macroeconomic uncertainty driving fund selling, plus the Black Sea Grain Deal was extended. Cattle bounce with a constructive COF report while hogs are seeing more technical selling and economic concerns weigh on the market. Allison Thompson with The Money Farm has more.
Grains and Hogs See Pressure From Macroeconomic Concerns, Black Sea Export Deal: Cattle Bounce with Constructive COF
More fund selling in grains and hogs on macroeconomic concerns and the extension of the Black Sea grain deal. Cattle bounce with a constructive COF Report. Allison Thompson with The Money Farm has more.
March 20, 2023 09:00 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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