Trading got off to bumpy start this week as Ag-commodities took it on the chin with a 1%-1.5% drop lower the first two days of trading and really didn’t do too much after that. Lots of wet weather brought much need moisture throughout much of the entire country and will help enable the soil for planting even though most regions are behind with grower planting schedules. Mexico on the other hand has continued to be very dry and bean production will suffer most likely this year. The US dry bean market remained stuck in steady stone for another week as prices remain tame and well behaved for the most part.
Demand continues to be slow across most markets contributing to the lackluster trading sessions this week and prices seem to be quite happy staying put for now…. until weather or Twitter hackers decide to move the markets again that is.
I found this chart interesting after the “AP Fake Tweet” caused markets tumble for several minutes until the AP new agency confirmed their twitter account had been hacked. Please click on this chart to view it from another perspective Market Charts Liquidity Supply
Lower imports into China
USDA Late Plantings
Twitter now currently undisputed market mover