The U.S. military action in Venezuela over the weekend has dominated the news, but AgBull Trading President Tommy Grisafi is seeing a limited impact on the markets. “When you look at Venezuela, all eyes are on oil; they have a very heavy oil, like what Canada has, but it’s not like we’re going to have access to that oil right away.” Grisafi said U.S.access to Venezuela’s crude oil reserves could impact Canadian oil, putting pressure on Canada to be more willing to negotiate trade with the United States. The U.S. action in Venezuela reflects a fundamental shift in U.S. foreign policy. The Red River Farm Network asked Grisafi if that would impact our position on the world stage, especially with our best customers. “I think they wouldn’t be happy with what we did, but on the other hand, they sure as heck have to be impressed with how well we did it.” President Trump’s action puts other drug source countries, like Colombia and Mexico, on notice. “I was a little concerned about our trade with Mexico; they’re a large buyer of corn, but we’ll have to see.”
