Nothing fundamental changed for the grain markets on Wednesday, but money flow moved out of the grains. “The February USDA report wasn’t quite what the doctor ordered in terms of bullish news,” said Joe Vaclavik, president, Standard Grain. “USDA raised the export number, but not by as much as people would have liked. It resulted in a carryout projection for U.S. corn that was higher than expected. This is an excuse for traders to liquidate length. Fund managers have been long the corn market.”
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