Wheat gaps higher on the open putting Black Sea war premium in, pulls corn and beans up. Hogs extend rally from last week, with more fund selling in cattle and pressure from higher corn. Michelle Rook has details with DuWayne Bosse of Bolt Marketing.
Wheat Gaps Higher on Open Adding War Premium Pulls up Grains: Cattle React and See Fund Selling, While Hogs Extend Rally
Wheat gaps higher on the open putting war premium in, pulls corn and beans up. That pressures cattle, while hogs extend rally from last week. Michelle Rook has details with DuWayne Bosse of Bolt Marketing.
October 10, 2022 08:56 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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