Markets close mostly lower Tuesday with technical selling in the grains and positioning ahead of the WASDE, fading export biz. Lower crude oil also weighed on corn and soybean oil. Livestock consolidated in an inside day. Michelle Rook is joined by Garrett Toay of AgTraderTalk
Mostly Lower Closes with Technical Selling and Report Positioning in Grains: Livestock Consolidate in an Inside Day
Markets close mostly lower w/ technical selling in the grains, report positioning and fading export biz. Livestock consolidated in an inside day. Michelle Rook is joined by Garrett Toay of AgTraderTalk.
November 08, 2022 02:00 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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