Grains mostly lower with technical selling, the sharply higher dollar, weak exports, plus profit taking in soybeans with lower meal. Cattle consolidate despite steady to higher cash Thursday. Hogs mixed caught between lower cash verses the futures discount and strong exports. Michelle Rook talks with Don Roose of U.S. Commodities.
Grains Mostly Lower With Strong Dollar, Slow Exports, Profit Taking in Soybeans: Cattle Mostly Lower Despite Steady to Higher Cash
Grains mostly lower w/the strong dollar, weak exports & profit taking in soybeans. Cattle consolidate despite steady to higher cash. Hogs down with weaker cash. Michelle Rook w/ Don Roose of U.S. Commodities.
November 03, 2022 01:54 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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