Grains ended higher Monday with wheat and corn putting in Black Sea war premium. Soybeans followed but did get some help from the meal market. Will the war headlines and upcoming financial news this week over shadow the WASDE? Nearby lean hogs saw follow through technical buying after a higher weekly close last week, while funds continued to press cattle on higher corn prices. Michelle Rook talks with Tommy Grisafi of Advance Trading.
Grains Rally with Corn and Wheat Putting in War Premium. Soybeans Follow: Funds Buy Nearby Hogs, While Higher Corn Pressures Cattle
Wheat and corn were higher putting in Black Sea war premium, while soybeans followed. Nearby hogs saw technical buying, with corn pressuring cattle. Michelle Rook talks with Tommy Grisafi of Advance Trading.
October 10, 2022 02:27 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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