Wake Up Call Allendale Advisory Center: Grain markets are lower as commodity traders turn sellers. Short covering in grains is being overshadowed by China’s stock market plummeting. Stock markets around the world are following China’s lead. Crude prices fall again as traders worry about oversupply. The US Dollar is lower.
China allows their currency to deflate causing a ripple effect across commodities. Investors are concerned the Chinese economy is weaker than even imaged.