AgriTalk ATB: Bean Prices Snap Back After Friday’s Downdraft
“This bean market really is sensitive to any headline dealing with China and trade,” explained Steve Georgy, president of Allendale, Inc., McHenry, Illinois. On Monday’s AgriTalk After the Bell, Georgy told host Chip Flory, “Beans are the only market that’s got some volatility, so traders are looking for anything that could trigger price movement and when they see it, they act quickly.”
Flory and Georgy discussed the latest trade developments with China. Some media sources are reporting that U.S. President Trump agreed to back-off sanctions on Chinese telecomm company TZE in exchange for China agreeing to back-off of threats to put tariffs on imports U.S. ag products. The development triggered a nice recovery from Friday’s price fall in soybeans and soybean meal. And lean hog futures also saw a similar price recovery.
