Grains and cotton under early pressure from China COVID protests and lower crude oil. Dollar is down and could be setting a new four month low. Live cattle open higher then see profit taking despite higher cash. Michelle Rook gets details with Darin Newsome, Sr. Market Analyst for Barchart.
Grains Under Pressure with China COVID Protests and Lower Crude Oil: Cattle Mixed
Grains and cotton under early pressure from China COVID protests and lower crude oil. Dollar is down. Live cattle see profit taking despite higher cash. Michelle Rook with Darin Newsome of Barchart.
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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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