Agri Commodity Markets Monthly October 2019: Trade Truce, but No Trust
October 2019
CBOT G&O tailwinds strengthened last month, following a surprise US corn & soybean stock drawdown, declining US summer crop prospects, and – finally – the announcement of a vague ‘trade deal phase 1’ between the US and China. The ‘deal’ appears to be a renewed truce in US tariffs, in exchange for a Chinese agricultural procurement arrangement.
