Grain traders were slightly surprised in the small reduction for U.S. corn carryout in the February USDA report. “Traders were looking at a 150 to 200 million bushel reduction in corn carryout through the lens of exports and unfortunately, all they gave us was 50 million and outside of that movement, any other number was pretty much dead,” said Luke Swenson, market analyst, the Money Farm. Grain traders are tuning into where demand may be going forward.
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