Grains end mixed after the WASDE with soybeans rallying after USDA dropped yield under 50 bpa and corn ending stocks down to 1.17 bb. Wheat continued to consolidate with the stocks cut less than expected and no new Black Sea headlines. Livestock ended mostly higher, but still cautious with recessionary concerns. Michelle Rook has analysis with Chip Nellinger of Blue Reef Agri-Marketing.
Grains End Mixed After WASDE and Bullish Soybean Surprise: Livestock Leaning Higher
Grains mixed reacting to the WASDE numbers and bullish soybean surprise. Livestock ended mostly higher. Michelle Rook has analysis with Chip Nellinger of Blue Reef Agri-Marketing.
October 12, 2022 02:15 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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