Grains open mostly higher, except wheat, trading risk on in outside markets, lower dollar, China COVID easing, SA weather. Live cattle and hogs extend gains and put in new contract highs after USDA reports.
Mostly Higher Markets Except Wheat, Feeders: Trading Outside Markets, SA Weather and Reports
Grains open mostly higher, except wheat, trading risk on in outside markets, lower dollar, China COVID easing, SA weather. Live cattle and hogs extend gains and put in new contract highs after USDA reports.
December 27, 2022 09:02 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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