E-Hedger market analyst Ryland Textor says the demand story for U.S. commodities continues to stay positive. “We’ll start getting more concise yield reports with farmers harvesting. I wouldn’t be surprised if we start seeing lower yields coming out of Iowa with the drought and severe weather that went through this summer. I think the market has done a good job of trying to price that in, figuring out what’s going on.” Demand is showing up in cash bids. “With elevators across the country bidding more aggressively, it does set things up for a bigger surprise for the stocks report later this month. The market could go lower if that’s the case. It just seems like elevators are finding themselves short on some soybeans on this type of a rally.”
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