Red ink flowed in markets around the world today with selling spurred by increasing fear over the trade war between the U.S. and China. After President Trump threatened another 10% tariff on $300 billion in Chinese imports last week, Beijing retaliated today by stopping any further purchases of U.S. farm goods. Lack of a weather threat in August forecasts kept traders on the sidelines or sent more out of long positions, even though there’s much uncertainty looming ahead of USDA’s Aug. 12 production estimates.
Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.
Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.