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Canada Know-Risk Market Outlook | HRW Wheat Ratings Improve

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Canada Know-Risk Market Outlook
 
Craig Turner
Office: 312-706-7610
Twitter: @CornWheatSoy
GRAINS & OILSEEDS |  The CBOT and canola are trying to find some support at these levels.  Funds are very short for this time of year.  Corn could be close to record short when we see the CFTC CoT report on Friday.  
The USDA released HRW wheat ratings yesterday and Kansas GD/EX increased 11% to 54%.  NE increased 21% to 69% GD/EX.  
Soybean export inspections were disappointing again at at 32.7 million bushels, the lowest since September.  They are down from 43.5 mbu last week and 70.9 mbu  last year.  Cumulative inspections 314 mbu behind last year’s pace.  
March Canola is breaking down and testing $600.  A break below $600 could put $550 in play, which is considered long term support.
March 2024 Canola
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Related tags: Grains & Oilseeds

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