Grains end lower in a risk off session with the higher dollar, and no new bullish SA crop story. Plus, there was some profit-taking after hitting chart resistance. However, moisture in HRW areas also weighed on wheat. Milk futures continue to slide, will they bottom soon? Bryan Doherty of Total Farm Marketing has the answer.
Risk Off Day in Grains with Higher Dollar, Profit Taking: Milk Futures Also Continue to Slide
A risk off day in grains, with a higher dollar, no new bullish SA crop news and profit-taking after hitting chart resistance. Plus, are milk futures close to a bottom? Bryan Doherty, Total Farm Marketing has details.
February 15, 2023 02:31 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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