Grains ended lower due to poor exports, the strong dollar, harvest pressure and technical selling. Cattle ended mostly lower despite higher cash and lower corn, while hogs had a gap higher open with fund buying, strong exports and higher cutouts supportive. Michelle Rook gets analysis from Ted Seifried of Zaner Ag Hedge.
Grains End Lower on Poor Exports and Strong Dollar: Cattle See More Selling Despite Higher Cash but Exports, Funds Support Hogs
Grains ended lower with poor exports, a strong dollar and harvest pressure. Cattle mostly lower despite higher cash, while hogs rallied on strong exports. Michelle Rook talks with Ted Seifried of Zaner Ag Hedge.
October 06, 2022 02:04 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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