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| Big money was right, they started building their position late last summer. They will likely know if there is a shortage or a risk of a shortage before we do. We as farmers are always net long, we either have a crop in the bin to sell or a crop we eventually have to sell. They don't care what side they are on as long as they make money.
USDA was only 1 billion bushels off of right in 2019, as China had better numbers than they did and bought on the cheap. USDA reports are like Yellen's "transitory inflation". | |
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Israel and Markets
