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NW Indiana | Old/new crop spreads are where they are based on the funds not necessarily the tightness of the current supply. Funds like to own the front months for volume which also tends to try to ration now instead of later. I think the belief by most is we still come up with 5 million or so more acres for C/B from the march numbers. If this doesn't materialize or trend yields start to become questioned new crop supplies might be tighter than old but yet the front months will likely lead. | |
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Expected fireworks in the market today worked out to be a dud.
