Markets found excitement today after the White House released a fact sheet stating that China has committed to purchasing at least $17 billion in U.S. agricultural products annually over the next three years. The announcement provided support across the grain complex as traders looked for renewed export demand optimism.
Weather also offered encouragement, with rainfall moving into some very dry areas of Nebraska and Kansas. Even with the welcome moisture, markets continue to monitor broader economic concerns, especially movement in the bond market and lingering inflation worries.
In livestock, attention turns to whether the cash cattle market can maintain last week’s powerful momentum as the trade heads into a holiday weekend.
Monday Market Wrap Up with Jim McCormick at AgMarket.Net
