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Will Down Days For Grains Continue?
Posted: 03/09/10
By: tomgrisafi
Grain prices fell once again Tuesday, ahead of this morning's USDA update on foreign and domestic grain production.
Apart from crop report suspicions, corn fell for a fifth day on speculation a stronger dollar may weaken demand for commodities.
It should be noted that the USDA doesn't usually update prior-year production levels for U.S. grains this late. That has added some volatility and uncertainty to trading.
Of course, the biggest story may not be reserved for corn, beans, or wheat. In fact, as we at Indiana Grain have been discussing a lot lately, sugar is a product that has the attention of many traders today.
The price of sugar has continued to plummet and is now nearly 30% below the highs it reached in late January. Increases in supply from India and Thailand helped drive prices down.
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