China as expected reacted to new U.S. tariffs with retaliatory measures of its own against U.S. products. But so far markets around the world appear to be taking the ratcheting higher of the trade dispute in stride. Stocks traded mostly higher in Asia and Europe following gains in the U.S. yesterday, and grain markets are also posting gains today. Corn and soybeans recovered from Tuesday’s contract lows, boosted by more buying in wheat.
Corn and soybeans follow wheat higher. (video)