Grains remain lower with more technical selling, extension of Black Sea Export Deal and risk off outside markets. Cattle firmer with lower corn and report positioning, plus $1 higher cash in the South. Hogs firming on more technical buying. Michelle Rook w/John Heinberg of Total Farm Marketing.
Grains Lower on Technical Selling, Black Sea Export Deal Renewal: Cattle Higher with Lower Corn, Higher Cash
Grains see more technical selling, extension of Black Sea Export Deal and risk off outside markets. Cattle firmer with lower corn and higher cash. Michelle Rook w/John Heinberg, Total Farm Marketing.
November 17, 2022 12:02 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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