Grains Mixed Awaiting Fresh News, Fed Decision with Short Covering in Wheat: Cattle and Hogs Continue to Grind Higher

Grains mixed early. Wheat sees short covering after new lows in KC and MN, row crops looking for direction, await FOMC. Livestock building on recent gains. Vince Boddicker, Farmers Trading Company, has more.

Grains mixed early with wheat seeing short covering after new lows in KC and MN, row crops looking for direction and awaiting the FOMC decision. Livestock continue to build on recent gains. Vince Boddicker, Farmers Trading Company, has more.

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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.
Wheat futures were up 30 to 35 cents early Wednesday adding risk premium as Russia and Ukraine attacks have escalated says Jamie Gieseke with Paradigm Futures.
Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
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