Grain markets had another positive week of momentum on dry weather concerns and continued strong export numbers, albeit traders took profits on Friday, limiting the weekly gains. Corn closed above $4 USD/bushel on the Chicago futures board for the first time since August 2019 as exports (both sales and shipments) to China continue to grow. While the Chinese government says everything it’s fine and domestic supply is adequate, their own Dalian Commodity Exchange saw corn futures hit new record highs this week! Winter wheat futures were the clear winner for the week though as dry conditions throughout the Black Sea,…
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