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PM Post - Pivotal Trade

THE OPEN

November beans: 3 1/4 higher December meal: .70 higher December soyoil: 18 lower December corn:   2 3/4 higher December wheat: 1 1/2 lower

The markets worked higher on technical follow-through from yesterday's reversal price action, which was a result of different stories/tweets regarding biofuels and trade talks. As to the first; Reuters announced that Trump said the administration planned a "giant package" related to ethanol. The second was confirmation as to perhaps a better outcome for trade talk negotiations. The Chinese Commerce Ministry made statements that implied that China and the US are making plans for the next face to face talks in September. In the meantime, China said they would refrain from takin...

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Summary of Futures

Mar 26 Corn closed at $4.3125/bushel, up $0.0375 from yesterday's close.  Mar 26 Wheat closed at $5.525/bushel, up $0.1525 from yesterday's close.  Mar 26 Soybeans closed at $11.3725/bushel, up $0.1325 from yesterday's close.  Mar 26 Soymeal closed at $307.9/short ton, up $4.9 fr...

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