On Thursday, September 12, the US Department of Agriculture released its monthly World Agricultural Supply and Demand Estimates report. Grain and agricultural product prices had limped into the report after a mostly bearish report from the USDA in August.
The early season floods did not cause massive losses in the grain markets. The escalation of the trade war between the US and China caused export demand to decline. Abundant supplies and tepid demand were a potent bearish cocktail for the prices of corn, soybeans, and cotton. In the meat markets, the outbreak of African swine