Traders are nervous with ongoing world events, ranging from Afghanistan and the Delta variant. NAU Country Vice President of Ag Services Rich Morrison says crude oil has been a big driver in this market. “That is removing interest in commodities as an investment class right now,” said Morrison. “We’re seeing funds that stuck around with corn, soybeans and wheat for a long, long time reevaluating those decisions and taking the money somewhere else.” China has been actively buying corn and soybeans. “I think that is telling us that Brazil is out of beans.”
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