Grains ended mixed on Friday with soybeans supported by meal and strong demand, while corn and wheat saw technical selling as the risk-off in outside markets like crude oil continued. Livestock rebounded with help from strong cash and cutouts. Arlan Suderman of StoneX has details with Michelle Rook.
Grains Quiet in Holiday Mode; Livestock Supported by Higher Cash and Cutouts
Grain markets end mixed after focusing on recessionary talk and the risk off in outside markets, while livestock rebound with help from strong cash and cutouts.
December 18, 2022 03:05 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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