Grains end lower Friday with risk off in outside markets including a surge in the dollar and lower crude oil, poor weekly exports and hedge pressure also weighed on the market. Cattle ended lower, a disappointment after the highest cash trade levels since 2015, while hogs were mostly higher on technical buying and export demand. Michelle Rook gets analysis with Mark Schultz of Northstar Commodity.
Grains End Lower on Higher Dollar and Poor Exports: Cattle Disappoint After Cash High for Year, While Hogs Get an Export Boost
Grains end lower with risk off outside markets and poor weekly exports. Cattle failed to rally on higher cash, while export demand supported hogs. Michelle Rook talks to Mark Schultz of Northstar Commodity.
October 14, 2022 02:10 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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