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South central kansas |
I would agree to certain extent about trading sideways...for a short time. With no resolution to the trade war, IMO it becomes harder and harder to make the lowered USDA export target and beans carry out will go above 1 billion.
I think the resilience in bean prices over the last couple weeks has been the expectation of this upcoming G-20 meeting between trump and xi and that some agreement will be reached or at least a beginning of the end to the trade war. If those expectations are not met, then I think we go lower. It will depend on the level of expectations built into price. | |
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Wedge
