Futures markets have been tossed around by weather concerns for the US Hard Red Winter wheat crop, and the South American corn and soybean crops, for some weeks now. Last week we added uncertainty about a trade war between China and the US into the mix, as well as speculation about longer term interest rate moves in the US.
On a day to day basis there is little warning as to what will drive the market. Will it be a forecast for rain/no rain, or will it be an escalation of trade issues between China and the US? In turn there is the impact on the value of the US dollar from trade war speculation, and speculation interest rates.
On Friday night we saw a sharp selloff in US futures markets, only for that to be reversed, particularly for cor…
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