Loewen and Associates market analyst Matt Hines is beginning to sense a change in mindset among wheat traders. Hines says traders are beginning to talk more about reduced acres. “There’s starting to be more chatter about world acreage. We’ve had issues in western Europe and quality issues around the world. We’re also looking at projected lower stocks next year, which would be friendly.” While the wheat market is finding buying interest, the row crops are range bound. “Corn is stuck, but beans are trending higher. It’s a bull market. It needs to be fed to continue to go higher. The funds are still net short.”
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