Last week, commodity markets showed some nervousness as news China would place tariffs on U.S. soybeans, corn and other agricultural products.
Soybean prices that had been in the $10 range hovered closer to the $9 mark on Friday, and according to one analyst, the markets could continue to fall this week.
Aside from this trade spat between China and the U.S., weather is a big driver for markets this time of year that could be of concern this week.
“There are some rains coming in, what do the extended maps look like, and it will begin to trade that,” said Brian Roach, president of Roach Ag Marketing, Ltd. “We’re watching the weather every day…I think that’s where my focus will be.”
Price action is something Craig VanDyke, risk management specialist with Top Third Ag Marketing, is watching this week.
“To me, that’s the most important function of what’s going on here,” he said on AgDay. “I always assume the what’s going on in general before I do. My opinion of price action, to me, is going to help tell the story moving forward.”
Hear what Roach and VanDyke say they’re trying to find ways to stay encouraged with these markets on AgDay above.