A risk off day in outside markets with the bank default news spreading to Europe, which has the DOW and crude oil sharply lower, the dollar sharply higher. That is weighing on soybeans and livestock. Corn and wheat seeing a bounce on short covering and China export business. DuWayne Bosse of Bolt Marketing has more.
Soybeans and Livestock Under Pressure with Risk Off in Outside Markets: Corn and Wheat Firmer on Short Covering and China Biz
A risk off day in outside markets is weighing on soybeans and livestock. Corn and wheat seeing a bounce on short covering and China export business. DuWayne Bosse of Bolt Marketing has more.
March 15, 2023 11:27 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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