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Grain market bulls in full retreat

September 2, 2021 by Jim Wyckoff

The grain market bulls are in full retreat this week. Hurricane Ida has seriously disrupted shipping of U.S. corn and soybeans to overseas customers, and that’s very bearish. Most of U.S. corn and soybean exports go through the Mississippi River and Gulf of Mexico. Reports say China is now looking to Brazil to obtain soybeans, fearing that the U.S. won’t be able to supply their needs in the coming weeks.  Corn and soybean futures charts are now bearish, suggesting more downside to come in the near term. Stay tuned!

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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