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SE Iowa | acres were the shocker.... ave guesses.. harvest 86.4 vs 87..1 nass.... vs 86.3 from aug....... .. even though fsa had +500.. trade didn't expect the jump of so many... beans +100k. was also shocker... lowered crush and exports... (I wouldn't be in that camp).... so needed a reaction.
if they didnt raise the acres prolly be +10 on the day.. the market was storing energy for a break one way or the other... and we got the pressure of all those bars released.... it really wouldn't take to much to push above 4.85 for tomorrow and get to 5.10 ..... now..... funds will want to see follow thru tonite and tomorrow or they will cover ...esp new shorts today...so bulls should be looking for trade above 4.79 with increased volume for clues...
Edited by Palmtopper 9/12/2023 13:47
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coiling?
