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Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Weather remains the theme in the Ag markets. A slightly drier extended forecast for the cornbelt caused a few of the weather bulls to pause yesterday. Basically the GFS model removed some of the rainfall in the Midwest starting next week, now it looks a little wetter. With falling temps, more rain and snow now hitting the ground across many parts of the Midwest (13' inches of snow in parts of MN, winter weather advisory in IA) the trade should remain hesitant today in reducing any additional weather related premium.
USDA weekly export sales data this morning seen as strong for new-crop corn, beans and wheat. Cancelations and negative sales reported for old-crop beans for the second weak in a row... Chinese soy demand slowing???
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