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