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| For the soys, its all about the delays. Processors are competing
with the exporters for supplies to meet commitments. This is why
soymeal is the leader.
But the rally began with money flows two weeks ago as outside
markets broke down. The planting delays in N Brazil has also played
a role. I do not think anything fundamentally has changed. So we
should return to pressures again as the pipeline fills.
The market profile was short. As the technicals improved, funds
were forced to cover. OI changes proves this out.....
Jim | |
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Harvest delay rally
