Grain markets lower early with harvest pressure, disappointing exports and the higher dollar once again factors. Livestock open higher then turn mixed. Hogs trying to bounce off 10 month lows with decent exports, while cattle continue to see technical selling on rallies and with lower cutouts. Michelle Rook is joined by Allison Thompson of The Money Farm.
Grains Lower with Harvest Pressure and Slow Exports: Livestock Open Higher then Turn Mixed
Grain markets lower early with harvest pressure, slow exports and the higher dollar once again factors. Livestock open higher then turn mixed. Michelle Rook is joined by Allison Thompson of The Money Farm.
October 06, 2022 08:44 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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