Grain mostly higher early with risk on in outside markets and the lower dollar, plus wheat is putting in some war and weather premium. Cattle back higher with the equities up and higher cash last week, while hogs are mixed to lower on spreading and consolidation. DuWayne Bosse from Bolt Marketing joins Michelle Rook.
Markets Mixed Early with Risk on in Outside Markets and Lower Dollar: Wheat Putting in War Premium
Markets mostly higher with risk on in outside markets, lower dollar and wheat is putting in war premium. Cattle follow DOW & higher cash, while hogs consolidate. DuWayne Bosse Bolt Marketing joins Michelle Rook.
October 17, 2022 08:57 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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