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With no fireworks from USDA reports, grain markets still lack a reason to move upward
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With no fireworks from USDA reports, grain markets still lack a reason to move upward
Grain markets entered the June 30 USDA reports hoping for a reason to rally. What they got instead was confirmation of what they already suspected: Supplies remain ample, demand is sluggish and there is no weather threat strong enough to shake the bearish tone. The U.S. Acreage and Quarterly Stocks reports didn’t deliver fireworks, and futures barely flinched. That’s not bullish. In fact, the lack of surprise reinforces the current sentiment: Fo…
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