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I expect a slightly bullish report but a bearish price reaction. The one wild card is what happens to soybean prices. Corn prices could push higher if soybean prices go crazily higher (more in the bean section). First, demand is being hurt in the corn market. South Korea hasn’t bought US corn in almost a month. There is talk of ethanol plants closing and the reality is current ending stock projections support a $4.40 price level, not the current $4.90 corn futures. There would need to be a big cut in 2020 corn ending stock just to support current prices.Continue
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