The markets have seen a major retracement since the Fed increased interest rates in mid-June. Advance Trading Risk Management Advisor Tommy Grisafi believes the market got spooked and uses cryptocurrency as an example. “Folks in the ag community may think it doesn’t affect them, but it does,” Grisafi told RRFN. “When an asset class like crypto is worth $3 trillion and within four weeks, it’s only worth $1 trillion, when you hear you can’t get your money out, it scares people.” The overall stock market is off 25-to-35 percent from its highs. “How do you tie that back to corn, wheat and beans? It’s money flow.” More information from Grisafi can be found in ‘The Bull Pen’ interview on the Red River Farm Network YouTube channel and other social media platforms.
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