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S Illinois | There are a few problems with your figuring. First off, all unknown location sales will eventually be canceled. They can be either canceled completely or more than likely they are switched to know locations. Therefore when most unknown cancelations occur they are just being canceled for accounting purposes and not proof that actual sales have not occurred. The second is China's net commitments have been increasing every week, therefore they have been buying much more than they have been canceling or moving from unknown locations. Now I don't know if 560tmt for this week sales is bullish or bearish but China is not canceling more than they are buying as of right now. | |
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USDA predicted nearly 75% of soys been sold or shipped
