Markets were mostly higher on Monday except wheat with a risk on day in outside markets like crude oil supportive. However, soybeans also saw a technical recovery after a down week and help from product strength. Corn was still digesting the lower quarterly stocks, while wheat saw some profit taking. Both cattle and hogs were higher on short covering, but will there be any follow through buying? Michelle Rook talks with Alan Brugler of Brugler Marketing.
Markets Mostly Higher to Start the Week and New Quarter
Markets were mostly higher on Monday except wheat with a risk on day in outside markets supportive. Both cattle and hogs were higher on short covering. Michelle Rook talks with Alan Brugler of Brugler Marketing.
October 03, 2022 02:13 PM
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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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