President Biden’s decision to end his reelection bid has implications for the economy and the markets. In the overnight grain trade, grain markets rallied. “That’s tied more to weather in the Black Sea Region and weather in the Northern Plains and Midwest and they were extremely oversold,” said Tommy Grisafi, risk management advisor, Advance Trading. “If you didn’t know that Joe Biden stepped aside, you’d think the markets were at the start of a good week and that’s the effect.” There are 106 days until Election Day and there is plenty of uncertainty across the political scene. “It leaves us very vulnerable; watch China and Taiwan. If China were to misbehave, it would be in these next few months when we have a lame duck president.” Listen to Grisafi’s comments.
