Grains are mixed at midday with corn and soybeans trying to hold early gains with help from the easing dollar, decent exports and report positioning. Wheat is lower with some profit taking. Cattle and hogs are seeing short covering as they are oversold and weekly exports were also helpful. Michelle Rook talks with Randy Martinson of Martinson Ag.
Grains Mixed at Midday on Consolidation and Report Positioning: Livestock See Short Covering Bounce and Decent Exports Supportive
Corn and soybeans holding small gains helped by the weaker dollar and decent exports. Livestock supported by short covering and strong weekly exports. Michelle Rook talks with Randy Martinson of Martinson Ag.
September 29, 2022 11:19 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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