Argentina Grain Inspector Strike continues to impact markets

Several commodity markets sold off overnight, after hitting new six and a half year highs on Wednesday. However, those losses were limited due to concerns over a grain inspector strike in Argentina.

The soybean market is now in a rationing mode due to the tightening global supplies and South American drought. The head of Cargill’s ag supply chain says the extent of the rations, and how they would occur, is yet to be seen.