December corn futures continued lower yesterday as the bull camp threw in the towel, some likely forced by margin/risk departments. Soybean futures caught a bid yesterday, thanks to new news that suggested a delay in additional tariffs
President Trump announced he will delay additional tariffs on China until December and the risk-appetite responded. U.S benchmarks rallied sharply with the S&P gaining 1.8%.
After taking a two-day breather from the headlines, the trade war is again heating up. Given the depth of yesterday’s rally though, this is so far a minor pullback.
October lean hogs managed to put a tourniquet on today, finishing at session highs, a stone throw from limit up. The consolidation from Monday’s session is all you can ask for if you’re in the bull camp
