06/24/26 Buyers Lack Conviction

Morning Market Talk Below, you will find today’s installment of Morning Market Talk. You can copy and paste the link below for this morning’s episode.   https://youtu.be/U_GeUMkEUno?si=9FE0GkYIySQX66xl   On the Grains   Grain and soy markets have turned mildly higher early this morning, aside from soyoil, amid light corrective buying. The upside remains limited, however, as there’s little conviction behind the buying, as much of the news and headlines are currently being viewed through a bearish lens. While the heavy wave of fund selling has eased for now, there is a lack of buying required to produce sustained price strength. The upside is capped to short bouts of corrective buying – and it will remain that way until there’s a fresh bullish catalyst. As we’ve stated, the next chance for that will be USDA’s June 30 reports.   One aspect that has slipped under the radar is the strengthening U.S. dollar index, which has risen to its highest level since May 2025 amid prospects for the next Fed move to be an interest rate increase. While there’s a lag effect from when the dollar strengthens to its impact on exports, including grains, the strengthening is psychologically negative to traders –…