For the first time in its history, the Dow hit 22,000 earlier this month. The average has increased more than 3,6000 points since President Trump’s election victory in November.
Chris Narayanan, president and CEO of Gladius Aratrum, said the upward movement in the Dow is reflected by companies doing more hiring, shrinking unemployment, and earning not by cutting costs.
“For the time being, I don’t see anything that’s going to really derail it—barring some kind of big crisis,” said Narayanan.
The dollar also saw more strength following the election, but Don Close, senior analyst of animal protein of Rabobank, said that “Trump bump” has rolled over.
“We’re now looking at the Trump slump and the currency values—that’s a supportive influence because it makes our goods cheaper in the international market,” he said. “From a raw commodity or agriculture front, we should really see some benefits from the lower dollar.”
Hear their full discussion and Bryan Doherty discuss corn and soybean prices on U.S. Farm Report above.