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South Central NE | ekeller2,
I don't mean to sound simplistic but I believe traders are expecting a huge crop. They believe the carry-out will triple and southern yield reports so far bear that conclusion out. And, since it is a Futures market they see little to worry about in that future. They are content to let local basis do the heavy lifting, sorting out the local needs and giving incentive to move beans from surplus areas to fill shortages. I believe they will be content to let basis do the job until they are given a substantial reason like a frost to chase it higher... Thanks | |
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Bean market
