The markets are trading lower to start the week with corn down 8, beans down 9 as it appears it will be another active week with the weatherman garnering a good portion of the attention. Today’s forecast is much less threatening to yield estimates than it was last week.
Beijing has made a symbolic move against the US overnight by placing financial sanctions China announced the details of its
promised retaliation against the US for its sanctions over Xinjiang, sanctioning American officials and senators on Monday in the latest tit-for-tat confrontation in their deteriorating relations. Chinese foreign ministry spokeswoman Hua Chunying said the behavior of US officials and politicians had severely damaged China-US relations, and should be condemned.
Less threatening weather, along with rising Chinese tensions and COVID figures will weigh on markets here today. Corn stocks at 30 year highs will continue to pressure prices.
Have a Safe Day!