Another risk off day in outside markets causes fund selling in ag markets, plus harvest pressure and low river levels weighed on soybeans. Wheat held gains on China export biz. Chip Nellinger, Blue Reef Agri-Marketing has more.
Risk Off Hits Ag Markets, Plus Harvest Pressure and Low River Levels: Wheat the Exception on Surprise China Buy
Another risk off day in outside markets hurt ag markets, plus harvest pressure and low river levels weighed on soybeans. Wheat held gains on China export biz. Chip Nellinger, Blue Reef Agri-Marketing has more.
October 03, 2023 03:00 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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