Corn and wheat closed mostly higher with technical buying, despite the higher dollar. However, soybeans saw harvest pressure and the lower meal market a drag, along with the lack of weather issues during South American planting. Livestock closed higher with a corrective bounce but will there be any follow through buying? Michelle Rook talks to Shawn Hackett of Hackett Financial Advisors.
Grains Close Mostly Higher Except Soybeans Despite Dollar Strength: Corrective Buying in Livestock
Corn and wheat closed mostly higher on technical buying, with harvest pressure in soybeans. Livestock closed higher with a corrective bounce. Michelle Rook talks to Shawn Hackett of Hackett Financial Advisors.
October 05, 2022 03:50 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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