China is threatening to block imports of U.S. sorghum, alleging the U.S. is dumping the sorghum on their market. An investigation has been opened that will likely put the brakes on purchases of U.S. sorghum. It's another dispute in the ongoing trade friction between the U.S. and China, perhaps in retaliation for Trump's tariffs on solar panels and washing machines. The sorghum blockade hits in solid Trump country.

There's more selling on the stock market in Europe and Asia and the market fear factor has shot up. There's a lot of anxiety about higher interest rates.

Thursday at 11 a.m. central time, USDA comes out with its monthly supply and demand report for February. It is focused on old crop. Bryce Knorr expects USDA to raise wheat and soybean carryout. Much of the focus, he said, will be on the South American crop.