There were lots of large worries in the big picture but not so much in agriculture today as it carried on in a mostly bullish affair. The macro markets are supposedly concerned about the rising cases of COVID-19, the lack of an economic stimulus package and perhaps threats from Beijing. The agricultural commodity markets remained focused on supply and demand, the latter of which is well evidenced. In fact, bullishness in commodities attracts cash seeking great yield and thus open interest is pressured upward. Middle income countries are purchasing to stockpile in case supply chains break again under the coronavirus. It is reported that Chinese consumer purchasing during Golden Week was stronger than expected. China says its corn production...

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