Spread trade has many layers in the market today — from the pressure of potential crop yields to the uncertainty of trade talks moving forward. Speaking of yields, the sentiment is leaning toward a decline as harvest nears, with cooler temperatures expected to trim soybean size. On the global front, several key meetings are set for next week without U.S. participation, though there’s a sense that China may be preparing to return to the bargaining table. Meanwhile, cattle futures continue to push to new highs, giving producers reason to evaluate the long side of the futures trade.
Mike Zuzolo with Global Commodity Analytics shares thoughts in today’s Market Wrap Up…
