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January WASDE causes big moves in corn and soybean prices
As we’ve been reporting on throughout the week, many estimates for the January WASDE said that it would likely be a rather uneventful report. The USDA loves to prove us wrong though, and they did that today by making cuts to both the corn and soybean numbers while leaving the South American crop unchanged. Allendale commodity broker Greg McBride said this news is very bullish for the corn markets. With no changes to the South American crop, Brazil and Argentina are projected to have massive...