Grains open lower with corn seeing harvest pressure and technical selling, while wheat is suffering Black Sea war fatigue and rain chances in winter wheat areas weigh on the market. Soybean caught between lower meal and higher soybean oil. Cattle had a chart breakout Monday but is the market going to make it through the next resistance area on the charts? Hogs get a push from technical buying and stronger fundamentals. Michelle Rook talks with Garrett Toay of AgTrader Talk.
Grains Lower on Technical Selling and Harvest Pressure: Livestock See More Fund Buying After Strong Close Monday
Grains open lower with harvest pressure and technical selling. Cattle and hogs see fund buying after strong chart action Monday and decent fundamentals. Michelle Rook talks with Garrett Toay of AgTrader Talk.
October 18, 2022 08:51 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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