It was a wild ride in global stock markets and the U.S. dollar this week. These markets had a bearish knee-jerk reaction as it became clearer Donald Trump was going to win the Nov. 8 presidential election. But U.S. stock futures and the dollar bottomed early in the morning of Nov. 9 when Hillary Clinton conceded the race for the White House and Trump was named the winner. The Dow Jones Industrial Average surged to a new high late last week and the greenback also rallied sharply. The markets just wanted an answer and not to be left with days (or weeks) of uncertainty. Corn and soybean futures faced price pressure as USDA raised its crop and carryover estimates. This temporarily shifted attention back to record supplies and away from the impressive export demand pace. Winter wheat contracts followed corn and beans lower, while spring wheat futures were firmer.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle and hog markets strengthened with the stock market.
We outline impacts of the Nov. 8 elections -- and much more -- in this week's Pro Farmer newsletter.