Technical buying supports rally in livestock, cattle break to new highs for the move. Higher cash also supportive. Grains set back on technical selling, harvest pressure, hopes for Black Sea export deal extension. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Technical Buying in Livestock Pushes Cattle into New Highs, Grains Lower on Harvest Pressure, Black Sea Export Hopes
Technical buying supports livestock, cattle break to new highs for move. Grains see technical selling, harvest pressure, Black Sea export deal hopes. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
October 18, 2022 11:24 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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