USA: Bullish breakout with unhooking from the course of goods

Published 2023년 5월 22일

Tridge summary

The article discusses the current state of agricultural commodities and the stock market. It highlights a rise in cotton prices, despite a increasing dollar, and robust US crop sales and exports, with hints of significant purchases by China. The article also mentions the impact of speculators on the stock market and the effects of a stronger dollar against the euro on the Greek market. However, despite these positive signs, demand in the market is reportedly slow. The future of the market, represented by the new crop, shows a decrease in demand and a reduction in the stock market premium for the December '23 crop compared to July '23.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

new York While grains, corn and soybeans were down, cotton broke above the stubborn 80-85 cents per pound range, ignoring the recent rise in the dollar. US crop sales/exports remain promising, while China has recently been rumored to be buying quantities by building its government stocks. Speculators who are placed on the decline are forced out of their positions by buying contracts, which strengthens the stock market more. Greek market The rise of the stock market combined with the strengthening of the dollar against the euro bring some smiles to our market. The bad thing is that demand is somewhat sluggish, although spinners are slowly coming out of Turkey and Egypt for new markets with direct shipments. In other words, something is moving in this ...

Source: GRAgronews