The USDA supply/demand report put the corn carryout at 1.34 billion bushels. Corn exports were lowered, but Van Ahn and Company market analyst Kristi Van Ahn anticipates further cuts. “That is a very justified movement and I wouldn’t be surprised if corn exports are cut again if we don’t start to see some private sales.” The report dropped the soybean crush 10 million bushels. “We have seen crush margins deteriorate and it almost seems like USDA is doing a do-si-do between demand structures in soybeans.”
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