Over the past several days, optimism over a U.S. – China trade agreement helped push commodities up into new trading ranges and funds are trying to shed their short positions. As happens, now the skepticism settles in due to a lack of concrete signed documents. However, China’s officials are still speaking positively about the deal, they are lowering tariffs, and they are active purchasers of American commodities. Collectively, this is keeping doubters on the defensive. One China-based analyst says that President Xi Jinping does not want relations with the U.S. to slide worse than they have already. Overall, the market is trending higher as fall backs are shallow. The funds don’t want to get trapped against the trend. But,...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, China, North America, South America