S&W Trading market analyst Andy Shissler says the lack of fresh news for the grain markets means that news happening in the stock markets had a greater impact on commodities last week. “A property developer in China, the Evergrande Group, had a bunch of housing and they ran out of money to pay for it. They owe $50 billion now and they’re roughly holding $300 billion in debt. There was a potential bailout and how they may default on their loans. That lowered the stock market.” That spilled into everything. “The crude oil markets went lower and the commodity markets lowered, too. These events happen occasionally, where outside forces weaken the markets.”
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