Grains lower removing war premium with an extension of the Black Sea Export Deal and risk off outside markets. Feeders bounce on the lower grains, with live cattle mixed on report positioning. Hogs lower on exports and big slaughter. Michelle Rook is joined by Scott Varilek of Kooima Kooima Varilek.
Grains Lower with Black Sea Export Deal, Risk Off: Cattle Mixed on Report Positioning, Hogs Lower
Grains lower w/extension of Black Sea Export Deal, risk off outside markets. Cattle mixed on report positioning. Hogs lower on exports, big slaughter. Michelle Rook w/Scott Varilek of Kooima Kooima Varilek.
November 17, 2022 09:02 AM
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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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