Grains under pressure on higher dollar and recessionary concerns, talk of an extension of the Ukraine export deal, rain chances in winter wheat areas, plus harvest pressure hits row crops. LC see profit taking ahead of the cattle on feed report and hogs are mixed. Michelle Rook talks with Randy Martinson of Martinson Ag.
Grains Lower on Harvest Pressure, Export News, Higher Dollar: LC see Profit Taking Ahead of Report, Hogs Mixed
Grains under pressure on higher dollar, Ukraine export news, rain chance in wheat areas, harvest pressure. LC see profit taking ahead of COF, hogs mixed. Michelle Rook talks with Randy Martinson of Martinson Ag.
October 21, 2022 08:59 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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