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Gary's Blog 01/24/25 1:43:39 PM
1-23-25
Ever since the crop report the market has done nothing but rally with only a few minor setbacks. (today being one of those) The charts and momentum are bullish as the summer rows (esp beans) have distanced themselves from fundamentals. Funds want to own commodities for whatever reason. (inflation hedge ect) Producer selling has been heavy on the rally which has kept basis in check. South American harvest is about to ramp up (Brazil) while dryness has plagued parts of Argentina. We will keep an eye on how this develops.
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