Investors pulled money off the table to safe havens on Monday amid a risk off day. China’s Evergrande Group, the largest property holding company in the country, is the topic of discussion as they may default on debt and go under. That had investors spooked on the day December corn closed down 5 1/2 cents and November soybeans were down 21 1/2 cents, pressured by the anticipation of harvest and bearish market influence from liquidity problems in China. December soybean oil posted the largest percentage loss among grain-related contracts, finishing down 1.39 cent at its lowest close in three months.
Early harvest results have been mixed with disease pressure a hot topic east of the Mississippi River. Also, Gulf shipping woes continue to be a factor. Livestock were a bit more mixed on the day with cattle and hogs working off the lows. It’ll be interesting to see how cash trades in both complexes as the week moves forward.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
More analysis with Jesse Allen and John Heinberg of Total Farm Marketing on today’s episode of Market Talk below:
https://open.spotify.com/episode/3k7cuZ7JjJyfEKCzmiAIAL?si=WHs9Cy4DRHCvLGXFWezFEQ&dl_branch=1
