Highlights, Economy, Rain Days Update 9/25/22
China's former Deputy Public Security Minister, Sun Lijun, who had been denounced for months "seriously damaging the unity of the party", has been jailed for life. The announcement was made early today just ahead of a key Communist Party congress. What is more important and may or may not be related to the Security Minister’s problems, late this afternoon China time, all commercial flights into and out of Beijing and about 60% of China’s commercial flights have been grounded. All rail traffic has been halted into and out of Beijing. Rumors were rampant on the internet that President Xi Jinping was under house arrest as a result of a coup by China's People's Liberation Army. No official press release as of this writing. If this situation does not get clarified by the time the CBOT opens this evening, we would expect beans to be lower. Do not panic sell! If you feel you must do something, buy puts. Eventually, all those people will need to eat our soybeans.
An Explanation of Why Good Economic News Is Bad News
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