Grains lower this morning seeing profit taking and technical selling after a disappointing close yesterday in corn and wheat, and with caution ahead of the Fed announcement today. Moisture is the Plains and Corn Belt is also a factor. Livestock are trading mixed consolidating after a higher day yesterday and with new contract highs in deferred live cattle. Michelle Rook has details.
Grains See Technical Selling Early, Ahead of Fed Announcement: Livestock Consolidating
Early pressure in grains with technical selling ahead of the Fed announcement. Livestock consolidate after the higher day Tuesday. Michelle Rook has details.
December 14, 2022 11:25 AM
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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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