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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Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
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