Markets end in a sea of red and with lower weekly closes as funds liquidate on the looming government shutdown. That seemed to trump all other news including USDA’s reports. DuWayne Bosse, Bolt Marketing, wraps up the week.
Sea of Red as Funds Sell Commodity Wide on Looming Government Shutdown
Markets end in a sea of red and with lower weekly closes as funds sell on the looming government shutdown. That seemed to trump all other news including USDA’s reports. DuWayne Bosse, Bolt Marketing, has more.
September 29, 2023 02:49 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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