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| There's no evidence yet that the South American crop is in any real serious danger, maybe a modest yield decline but not a catastrophe. The trade war on the other hand, while the prospects for a resolution are looking better, there is really no guarantee that they won't collapse at the end of Feb. If that happens even the bean sales already made will be cancelled and where would that put the carryout? The price?
On the other hand, even if the trade war is resolved, how much more will it add to the price? | |
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Summer high with avg South American crop and Chinese resolution
