With trade uncertainties mounting, benchmark grain futures have lost ground this month: August soybeans down nearly 15 percent, September wheat down more than 6 percent, and September corn down just shy of 10 percent. Unsurprisingly, soft commodities overall have trended lower.
Crude oil, however, has found plenty of constructive macro factors, also fed by policy shifts and rhetoric from the White House, lending a good deal of support to the overall futures picture.
Futures indices & crude oil
Source: DTN, Bloomberg, McKeany-Flavell
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