Grains end mixed despite a risk on day in outside markets, including the sharply lower dollar. Export inspections disappoint in corn and wheat. Livestock futures end sharply higher on fund and chart-based buying, strong cash and product values. Michelle Rook has analysis with Arlan Suderman, Chief Commodities Economist for StoneX Group, Inc.
Grains Mixed Despite Risk on Outside Markets, Lower Dollar While Livestock Higher on Fund Buying, Strong Product and Cash Values
Michelle Rook talks with Arlan Suderman, StoneX, about Monday’s markets.
October 17, 2022 02:58 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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