Has The Market Priced In The Impact Of Midwest Floods?

A cyclone storm that has left at least 1 million acres of prime Midwestern farmland underwater has not particularly agitated traders. Live cattle futures pricing, the USDA Prospective Plantings report and other data are essentially telling us there is not much to worry about. But if NOAA is correct about above-average rain over the next two months, then it’s hard to see how farmers will be able to plant corn on time. Also, farmers stored a record amount of corn and soybeans as a result of the U.S.-China trade dispute. Those supplies have washed away.Learn more about your ad choices. Visit megaphone.fm/adchoices