Commodity Rally continues ahead of Christmas

Agriculture

I’m Clinton Griffiths with today’s AgDay minute.


Major agricultural Markets seeing green at midweek–with corn soybeans and wheat all trading higher. Corn futures trading near the $4.50 per bushel mark, its highest price since July of last year. Soybeans also up, climbing double digits, trading above 12 dollar 60 cent range at levels not seen since August of 2014. Wheat making a similar move Wednesday. Much of this momentum-driven by continued dryness in south America and a shipping strike in Argentina.

Virginia McGathey-McGathey Commodities Corp certainly there’s another dry day in Argentina that helps the market, as well as an analytics firm saying that they’re going to be cutting the crop for Brazil. All those things are really supportive of a stronger market going forward. Ag Research firm, Rabobank releasing its outlook for the poultry industry in 2021. Ongoing pressure from foodservice disruptions and slowing economic growth may keep prices down combined with less foreign demand..researchers don’t see a rebound until late next year.

Just when you thought 20-20 couldn’t get anymore strange, KFC is introducing a new gaming console, shaped like a bucket, and includes a built-in ‘chicken chamber’ to keep your chicken warm while you’re playing video games. According to a Twitter post last month, KFC was aiming for a mid-December launch, but given that Christmas is fast approaching, it appears it won’t happen until 2021.

For more ag news watch AgDay, weekdays on this station. Or anytime at agweb.com.

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