The United States grain and oilseed markets are currently dominated by two factors, said Ryan Ettner, broker with Allendale Inc. in McHenry, Ill. Ettner said those are the absence of a trade deal with China and the ongoing United States government shutdown.
While demand and activity is slowly ramping up for the fall cattle run, feed grain prices are currently in decline, said a Lethbridge, Alta.-based trader.
Emotional trading was guiding activity at the United States commodity markets, said Ryan Ettner, broker with Allendale Inc. The McHenry, Ill.-based Ettner said that particularly held true for Chicago Board of Trade soybeans and corn to a lesser extent.
The U.S. Department of Agriculture is working with Congress to evaluate whether economic aid might be needed for the nation’s farmers this fall amid trade disputes and record-high yields, Agriculture Secretary Brooke Rollins said on Monday.