Mostly lower markets with risk off spillover from the equity markets and higher dollar on macroeconomic concerns. Cattle take out chart support in the process. Wheat is the exception with China SRW export biz. Kent Beadle, Paradigm Futures has more.
Markets Mostly Lower on Risk Off Day in Equities, Harvest Pressure in Beans: Wheat the Exception on China Biz
Mostly lower markets with lower equity markets on macroeconomic concerns. Cattle take out chart support in the process. Wheat is the exception with China SRW export biz. Kent Beadle, Paradigm Futures has more.
October 03, 2023 11:44 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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