Grains continue lower on profit taking and risk off in outside markets with crude oil lower and the higher dollar. Plus, the markets may have worked in most of the SA crop concerns. Live cattle consolidating but higher cash could pull the market back higher, while hogs are seeing some profit taking with the futures premium to the LHI. Vince Boddicker of Farmers Trading Company has more.
Risk Off Day in Outside Markets Pulls Grains and Livestock Mostly Lower: Profit Taking Also a Feature
A risk off day in outside markets has led to profit taking in grains and much of the livestock complex. Plus, SA crop concerns largely dialed in. Vince Boddicker of Farmers Trading Company has more.
February 15, 2023 11:22 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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