GOOD MORNING, Prices opened slightly lower in the overnight session on technical follow-through selling from Tuesday's general down-day of trade. In the AM, the soy complex is trending lower vs. firmer grains. A bearish NOPA report this week for soyoil (higher ending stocks) and weaker energies, (plus funds long the most here), weighs. Sharp losses in palm oil also directs soyoil lower. There continues to be chatter that China is around the bean market, and pricings seem to be there on breaks of size, though we will certainly see if that holds true today. Basis and world cash markets remain firm. Wheat prices saw some profit-taking yesterday, but Canadian wheat yields remain poor. The sell-...
From WPI Consulting
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