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| This market sure acts a lot like spring wheat did 3 years ago. It topped on some kinda bullish news then. Minni wheat was already rising but after Russia invaded it really started to heat up, then it was hot and dry in May and early June and it continued up, then India said they were closing all exports and it went up for a day or two and turned, and it has fallen ever since.
Super hot markets seem to always top just after the last bit of bullish news.
I’m not saying the COF was super bullish, but it was a little bullish. If markets top on bullish news, that could’ve been it.
Also, as far as I can tell, there were no LRP contracts allowed yesterday. IDK if they always shut them down day after COF, but seems like they did yesterday…..
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The cattle market must be near a top.....
