Thursday June 23, 2022

  • Markets down heavily again today with most of the positive news already around for some time now. It brings to mind the saying “Bulls need to be fed every day”
  • Suspected profit taking and momentum trading are further amplifying the recent downtrend
  • US wheat harvest is around half done with more good weather in the near term to continue harvest putting pressure on the wheat futures
  • Another grain terminal in the Ukrainian port city Mykolaiv was hit yesterday setting fire to a vegetable oil warehouse. Occurrences like this continue to cause skepticism that Russia will allow grain exports to continue from Ukrainian sources