Balanced Reporting. Trusted Insights. Sunday, October 17, 2021

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Unrest in Cuba shakes up ag trade outlook

Public protests in communist Cuba are rare, so when people recently took to the streets to demonstrate in protest against the government, the world took notice and America’s ag sector is still weighing the implications for trade between the two countries.
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Markets

CME to permanently shutter most trading pits

Most of the iconic trading pits at the Chicago Mercantile Exchange, where traders would buy and sell corn, wheat, soybean and other future contracts with elaborate hand gestures, will close permanently, according to a CME Group announcement.
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Farm groups ask Biden to improve Cuba relations

Cuba could be buying a lot more poultry, corn, dairy and other ag commodities produced in the U.S., but first the U.S. needs to reverse course and begin strengthening ties with the island nation. That is the message from some of the largest American farm groups to the incoming Biden administration.
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