Red is a popular color on price terminals today. Most markets from stocks to soybeans are lower, with only safe havens like Treasuries and the dollar posting gains. Grain futures moved lower on fallout from yesterday’s bearish USDA report for soybeans, which slashed the agency’s forecast for exports due to China’s tariffs. That trade dispute is also on the mind of investors around the world due to worries about global growth fueled by problems in the world’s largest country.
Bearish USDA soybean forecast matches gloomy global outlook. (audio)