The director of China’s State Grain Administration said yesterday that the country will not need to import “large volumes” of corn this year, as they’ve stockpiled enough corn, in addition to wheat and rice. We shall see.
Look for corn to open mixed and beans to open 1 to 3 cents higher.
Daily CME spot market prices:
Block cheese $1.46 (unchanged)
Barrel cheese $1.4575 (unchanged)
Butter: $1.45 (unchanged)
Grade A NFDM: $1.2675 (down 1 cent)
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