I continue to worry about how the inexpensive "Black Sea" feed wheat is going to affect US corn sales. You have to believe with Russian feed wheat trading at $75 to $90 less than US corn, exports sales of both US wheat and corn could certainly struggle. With Russia right in the middle of harvest, this inexpensive alternative could simply continue to weigh on global prices. I am just not sure corn has the power or the backing right now to take "both" of these markets to higher ground. On it's own accord, I believe "Corn" would be performing very well, but with wheat continuing to trade at a steep discount, we just cant seem to gain the traction I would have anticipated.
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