Traders see the lack of South America exportable surplus corn as a factor which could help boost US exports and tighten old crop ending stocks by 50-75 million bushels as a bullish force for old crop contracts, the CME Group said in its Wednesday morning report.
Traders told the CME there was talk China booked near 4-5 cargoes of US soybeans for April shipment was seen as a supportive force. Brazil is normally active exporter for April but traders indicated that the long line to load cargoes in Brazil plus uncertainty of supply has limited offers.
As seen on marketwatchonline.com
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