Grains and cotton end higher on the partial easing of China’s COVID policies, higher crude oil and the lower dollar, continuing to digest the CPI data. Cattle saw profit taking. Michelle Rook wraps up the week with Tommy Grisafi of Advance Trading.
Grains, Cotton End Higher on China COVID News, Lower Dollar: Profit Taking in Cattle
Grains and cotton higher on easing China COVID policies, higher crude oil, sharply lower dollar, continuing to digest the CPI data. Cattle saw profit taking. Michelle Rook w/ Tommy Grisafi of Advance Trading.
November 11, 2022 03:47 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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