Grains seeing a corrective bounce after KC wheat hit new contract lows yesterday but trading weather, export news and war headlines. Live cattle continue to correct while feeders are down with higher corn, but is the bull market over? Crude oil down hard trading geopolitical headlines. Darin Newsom, Barchart, covers it all!
Grains See a Corrective Bounce: Cattle Mixed, Geopolitical News Pressures Crude Oil
Grains seeing a corrective bounce but trading weather, export news and war headlines. Live cattle continue to correct. Crude oil pressured on geopolitical news. Darin Newsom, Barchart, has more.
October 26, 2023 09:22 AM
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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.
Wheat futures were up 30 to 35 cents early Wednesday adding risk premium as Russia and Ukraine attacks have escalated says Jamie Gieseke with Paradigm Futures.
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