Grains, cotton and livestock end lower as a risk off day in equities spills over. However, grains also saw follow through technical selling and were removing weather premium with precip chances in Argentina and the U.S. Southern Plains. Livestock were also pressured by lower cash. Full analysis with Darren Frye of Water Street Solutions.
Markets End Mostly Lower in a Risk Off Day: Grains Removing Weather Premium
Ag markets end lower as a risk off day in equities spills over. Grains also saw technical selling and removed weather premium. Lower cash also weighed on livestock. Darren Frye of Water Street Solutions has more.
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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.
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