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June 23, 2023
Despite the markets being mostly flat towards the end of today's trading session, Feeder Cattle, Natural Gas, Palladium have end the day as top gainers.
Markets don't have a clear cut direction — Corn slipping 5.2% and closing at $588.5. Soybeans trades at $1,310.25 after losing 2.18%.
Current market events are being influenced by ambiguous macro data as United States Services PMI released today at 13:45 UTC with a figure of 54.1, while the previous figure was 54.9.
NYMEX Gas | Broadly flat at $2.64; session high: $2.65 session low: $2.52
While Natural Gas is on a 3 day uptrend Today's session might suggest a slow down — NYMEX Gas is trading at $2.64 per MMBtu after closing the previous day at $2.61.
+1.52%: bullish CME Feeder Cattle runs out of steam at $235.15; currently at $234.18 per pound
After closing the previous trading day at $230.68, the Feeder Cattle future is up to $234.18 per pound, which makes for a move of 1.52%/$3.5 today.
After four days of declines, the Palladium future is up $5.4 today
Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. Palladium trades at $1,278 per troy ounce after gaining $5.4 (0.42%).
