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Middle Tennessee | First, I don't want to suggest that Chinese futures mean jack to prices here, but it's something I occasionally follow. To me, the daily chart below looks a tad bullish, precarious, but bullish. And more, the September delivery contract is now a full 20% inverted to the January chart below.
The current macro dynamic is central bankers and fiscal-policy makers pushing inflation. Chinese leaders view rural income as perhaps the most important factor to domestic stability and economic well-being, see below from DimSums this week,
http://dimsums.blogspot.com/2016/08/premier-promises-farm-subsidies...
Of course, one way to inflate local prices is through trade restrictions, and I've noticed a bunch of crazy tit-for-tat in global trade today. Eurozone fines Apple. US restricts Chinese tires. And that's all today.
 (DalianCorn.png)
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 DalianCorn.png (74KB - 125 downloads)
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Dalian Corn
