There is not much to say about the grain markets other than they look rather ugly going into tomorrow’s USDA reports – big Quarterly Stocks are expected – Brazil’s soybean crop continues to grow according to the private analytical group , Agroconsult – they are suggesting the Brazilian soybean crop is now 113.3 M T. vs. their previous estimate just a couple of weeks ago of 111.0 M T. – Last month the USDA pegged their soybean crop at 108.0 M T.
One thing I have noticed about the acreage estimates vs. last year’s final planted numbers – estimates are running about 1.6 million acres shy of last year.
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