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“Weekly export sales this morning featured cancellations for old crop but new crop came in better than expected,” The Hightower Report said. “While funds are still holding a large short position, they have no reason to cover those shorts and in fact as prices fall, are more likely to add further to the positions.”
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“In today’s planting progress report, published after the close, spring wheat is 53% planted compared to 63% last year and a five-year average…
“Prices turned lower, unable to hold early strength. CGO July-26 was down $.03 ½ at $6.75 1/2., KC July-26 was $.06 ½ lower at $7.24 ¾, while…
“All three wheat classes are trading higher this morning as wheat seems to have a correlation with moves in crude oil, although weather is a l…
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