C+3, B-5, W-3. Fridays report was as expected. Traders still eying big corn/bean yields/potential. Ratings today expected +/-1% on both. Weather seems good maybe getting too wet in spots. Some pollination issues? Funds lightly covered shorts in C/W sold 6k beans. Happy Monday.
🇨🇳#China on Thursday increased its estimate of 2023/24 #corn imports to 20 million tonnes from 17.5 million in last month's forecast. That compares with 18.7 mmt in 22/23 and 21.9 mmt in 21/22.
23/24 #cotton imports were increased to 2.3 mmt from 2 mmt previously forecast.
Going to be a very interesting COT report this afternoon. Depending on what the commercial position does, will give the market a good idea what producers have done with cash after last weeks report.
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