Grains end mixed on Friday but were well off lows with a reversal in outside markets and the lower dollar, which also helped cotton. Grains continue to focus on demand, especially exports now that harvest is past the 50% mark. Live cattle scored more contract highs in October and December ahead of the Cattle on Feed report. Hogs scored new highs with support from higher cash. Michelle Rook gets details with Alan Brugler of Brugler Marketing.
Grains End Mixed Taking a Cue from Outside Markets, Lower Dollar While Cattle and Hogs Hit New Highs
Michelle Rook talks to Alan Brugler of Brugler Marketing to end the week.
October 21, 2022 02:54 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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