On Wednesday, wheat scores a key reversal after a drone strike at the Kremlin, which pulls corn and soybeans back higher as well. Will this bottom the grain markets? Will the Fed pause further interest rate increases to signal specs to get back into commodities? Plus, how much more will cattle correct? Ted Seifried of Zaner Ag Hedge has the answers.
Grains Reverse on Russia War News, But Is It the Bottom?
A key reversal in wheat after a drone strike at the Kremlin pulls corn and soybeans higher as well. AgDay’s Michelle Rook chats with Ted Seifried about the headlines and the market response.
May 03, 2023 03:08 PM
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Mike Castle of StoneX says with a lack of any major news, corn and soybeans saw a bit of positioning ahead of the Aug. 12 WASDE Report
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Kevin Duling with K.D. Investors says corn and soybeans are keying off of private estimates which are raising yields, especially for corn.
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