Chris Robinson Analysis: Grains and Cattle Market Update

Chris Robinson reviews commodity markets. Corn started to move higher three weeks ago and wheat has now moved up to a six month high.
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In today's Traders Exclusive update, Chris Robinson provides his weekly commentary on the grain and cattle markets. On Wednesday, the Chinese agricultural authorities will be making an announcement, with rumors circulating that GMO products will be approved for their markets. The statements have the potential to be supportive of corn, which has risen over the last three weeks. Wheat has been a more interesting market, as it has hit 6-month highs today, driven by the collapse of the ruble. The concern is that the Russians will reduce exports, which has allowed the commodity to break toward 640. The cattle markets have finally corrected after a strong bull run. The move has been in response to the slowdown in the Chinese economy. The Chinese PMI released today showed the first contraction in 7 months.