Despite the catastrophe unfolding at PFGBest and all our work trying to solidify the return of customer funds, the world has continued to operate more or less as usual. Some noteworthy market action today included corn and soybeans taking a breather from their recent relentless upward trajectory.  Soybeans came down off an all-time record high, while corn was falling from the highest prices in over a year. However, there’s been no significant change in either the supply or weather concerns driving the recent price spike.

The Euro also broke lower – after dropping in 4 out of the last 6 trading days, the currency has reached its lowest levels in 2 years. Natural gas experienced the largest percentage drop on the day, though remained well above recent trading levels.

We’ve seen some speculation about the effect that the PFG debacle may have had on today’s action in the futures market, but it’s unclear at this point whether that played any role. In spite of the mess, trading continues for those working through unaffected FCMs. How long before everyone can return to business as usual remains to be seen.