Grains end with corn slightly higher and wheat off session lows. So, has the market absorbed the Black Sea Export Deal extension? Soybeans saw technical selling pressure with the sharp drop in bean oil and SA weather. Cattle higher on lower corn, $1-$2 higher cash trade and report positioning. Will LC take out the contract highs? Michelle Rook w/Matt Bennett, AgMarket.Net
Grains End Mixed, Has the Market Worked in Black Sea Export Deal? Cattle Follow Higher Cash
Corn ends slightly higher, wheat off lows, absorbing the Black Sea Export Deal extension. Soybeans saw technical selling pressure w/lower BO. Cattle strong w/higher cash. Michelle Rook w/Matt Bennett, AgMarket.Net
November 17, 2022 02:13 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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