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Markets prepare for Thursday's WASDE

Markets prepare for Thursday's WASDE

“US Census Sep-April soybean exports were up 124 mln bu. above weekly inspections to date,” Steve Freed, with ADM Investor Services, said. “This puts USDA in a tough spot if they feel final carryout cannot go below 120. There is some concern that dry and warm weather could be be forecasted for US Midwest states over the next 2 weeks.”

Traders were also taking note of trends in ethanol exports. “Official Census data showed ethanol exports in April were reported at 112.68 mln gallons,” said. “That was down from 132.98 mln in March, but above the 99 mln from April 2020. About 45 mln gallons went to China that month.”

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