Hurricane Sandy, Looming Elections Influence Ag Markets

Financial markets, including agriculture, are faced with the influence of a number of important external factors; many are finding investors running for cover.

• "Frankenstorm" Hurricane Sandy closes the NYSE, Nasdaq trading floors in New York City.
• Looming elections in China and United States spur "market jitters."
• Global concerns about wet wheat harvests in Argentina and Australia, drought-ravaged crops in Russia, are making investors nervous.
• U.S. Crop Progress report delayed as the federal government closes down due to the threat of Hurricane Sandy. The rescheduled release time would be announced when offices reopen.
• While cash markets remain strong, according to Agrimoney.com: "While U.S. export and ethanol production data have fallen short of expectations, indicating effective rationing of a poor U.S. crop, it is far too early to be getting comfortable with a projected carry-out."

For full Agrimoney.com report, click here.