Daily US grain report: US grain futures get slight lift from news US-China trade talks restarting in October

US grain futures prices were firmer in overnight trading, amid more upbeat trader attitudes after China's commerce ministry said on Thursday that trade talks with the US will restart in October.
calendar icon 5 September 2019
clock icon 4 minute read

Weather in the Midwest continues to be non-threatening.

Also bearish is the strong US dollar on the foreign exchange market that makes US grains more expensive on the world market. The US dollar index has backed off a bit late this week but is still not far below the 27-month high hit earlier this week.

Bears have solid chart advantage amid price downtrend. Still more downside likely in the near term
Bears have solid chart advantage amid price downtrend. Still more downside likely in the near term

© Jim Wyckoff

Price downtrend still in place and bears have overall price advantage. More good gains in the near-term would suggest a market bottom or "harvest low" is in place
Price downtrend still in place and bears have overall price advantage. More good gains in the near-term would suggest a market bottom or "harvest low" is in place

© Jim Wyckoff

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