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Grains remain struck in trading range watching harvest, weather, news and demand

The grains seem to be set up in the trading range and so far, the news has not been enough to break the grains out of this patten. Stocks are tight so traders are reluctant to break through the low end of the trading range to prevent unwanted demand. On the flip side, we still need the demand to hold stocks in check for traders also seem reluctant to break above the high end of the range as traders seem to be waiting for more confirmation on production.
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Source: agweek.com

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With October USDA reports done, market focuses on Russia-Ukraine and poor growing conditions

Now that the report is put of the way, the market will go back to trading the war in Ukraine and poor growing crop growing conditions in Argentina, Australia, and the U.S. southern Plains. The market will also be watching closely the development in Brazil as heavy rains in Parana are starting to cause planting delays and lower the quality of wheat.
North Dakota United States Randy Martinson Vladimir Putin Federal Reserve Catch Randy Martinson
Source: agweek.com

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