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Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Wheat traders have been talking about the fact China may have bought between 500,000 and 1 million tons of US SRW wheat for summer delivery. The word is they are trying to bump up domestic reserves. The question is will China continue buying US corn or will they soon start looking for other alternatives? Some speculate they will simply wait on their own domestic harvest before becoming bigger buyers. In the end even though domestic Chinese wheat prices are trading higher than corn, I don't see this being enough at this time to sustain any type of longer-term rally. Certainly keep your eye on China, but don't get overly excited just yet....
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