Markets are lower except for cattle. Markets are lower except for cattle. Grains are seeing profit taking, with lower crude oil, U.S. and SA weather a factor as well as exports. What continues to keep grains at these current price levels and what could change all that? A longer term outlook with Steve Freed ADM Investor Services.
Profit Taking Pulls Grains Lower, Plus Weather, Crude Oil, Export News: What Could Move Grains Out of Their Current Ranges?
Grains see profit taking, with lower crude oil, U.S. and SA weather a factor as well as exports. What’s keeping grains at these current price levels and what could change that? The outlook w/Steve Freed ADMIS.
February 09, 2023 11:41 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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