top of page
If You Haven't, Try Our Daily Grain Market Reports FREE for 30 Days!
Writer's pictureWright Team

Highlights, Hedging Blunders, Markets & Rain Days Update 10/3/22

Highlights


OPEC+ (OPEC + Russia) will meet in Vienna on Wednesday to discuss reducing daily crude oil production by one million barrels per day. The larger-than-expected reduction reflects their fears that the global economy is contracting amid tightening monetary policy and the impact of a stronger dollar on oil prices. OPEC+ insiders say the final decision to reduce production will be made before the Wednesday meeting.


Baker Hughes reported Friday the number of oil rigs in the United States rose by 2 last week, to 604. Gas rigs slipped 1, to 159. Miscellaneous rigs stayed the same at 2. The rig count is 237 rigs more than this time a year ago.


Brazil will have a run-off election on October 30. President Bolsonaro, with 43% of the vote, did better than expected, but Lula da Silva got 48%. If a candidate had received 50%, there would be no run-off election between the top two vote getters. The farm areas went heavily for Bolsonaro.

Want to read more?

Subscribe to wrightonthemarket.com to keep reading this exclusive post.

コメント


コメント機能がオフになっています。
bottom of page