Good planting conditions and favourable weather in the U.S. has led to corn prices dipping slightly over the last week. Corn joins wheat prices on the downtrend all thanks to a bearish global picture. Old crop soybean prices have popped recently, hitting 11-month highs as crush margins and meat prices in China are improving while the balance sheet in the U.S. is still fairly tight. Domestic Chinese prices for soymeal, corn, wheat, and pork have all rallied in the last month, with pork prices leading the way and up 20 per cent. With this move to the upside in soybeans…
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