Grains end mixed with corn and wheat under pressure on profit taking and even some farmer selling, soybeans saw some support from better export inspections and higher soybean meal. Some report positioning was also noted. Cattle were higher with lower corn and higher cash ideas. Michelle Rook gets analysis from Don Roose of U.S. Commodities.
Grains End Mixed on Profit Taking and Report Positioning: Cattle Bounce on Lower Corn and Higher Cash Ideas
Grains end mixed with corn and wheat under pressure on profit taking and report positioning. Cattle higher with lower corn and higher cash ideas. Michelle Rook gets analysis from Don Roose of U.S. Commodities.
October 11, 2022 02:01 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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