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Traders weigh acreage projections

The big debate we’re going to have over the next couple of months is how many corn and soybean acres we’re going to see this year, said Seth Miller of The Andersons. “Expect high volatility,” he said.

After the welcome rally on the heels of the January crop report on bullish stocks news, the market will take a hard look at the enormous length of the speculative funds in corn and beans and if increased South American potential more than offsets the USDA’s stocks reductions, said Jody Lawrence of Strategic Trading Advisors.

The U.S. believes that China is assisting Russia in its war with Ukraine, said Joe Vaclavik of Standard Grain. A source said the aid stops a little bit short of sanctions violations. To this point the Chinese government has not criticized Russia. The last thing we need is some sort of conflict with China. We all know what happens when we get into a trade war with China.

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