Politics, Religion, and Her
Sammy Kershaw said we could talk about anything but politics, religion, and her. This week as we look at our agricultural commodities, traders only wanting to talk about politics, inflation, and production numbers.
Not only the midterm elections this week but also, Wednesday, World Agricultural Supply and Demand Estimates and Thursday, a round of inflation numbers.
Greg McBride, an experienced commodity broker with Allendale, Inc says it feels like a perfect storm is brewing…
“These midterm elections have kind of felt like a turning point in the making. Obviously, everything over the last six-ten years has turned so political and we get moved by a lot of those political movings.”
Globally, Russia and China are giving the markets concern for different reasons…
“China and their COVID situation, I swear we're one day on one day off when it comes to them getting rid of or maybe backing off of their COVID Zero policy or zero COVID policy. So that tends to drive the markets at this point too.”
Then there is that supply and demand report…
“I think we're gonna see another adjustment to corn export demand and it has nothing to do with the river system or potential rail strikes or anything like this. This is just simply we don't have the demand.”
Again Greg McBride with Allendale.