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| Recognizing these markets are being driven by several forces, I am getting cautious into this holiday period for several reasons. While in a strong trend, the gold market looks a little crowded....I also suspect (I don't know for a fact) some of these latest China soybean purchases are optional origin to be used only as some protection against the SA crop...& my preliminary work suggests the China demand for soy may flatten a little next year. On the other side, we really do not know what size is our crop and may not know until the stocks report verifies. I will elaborate more in a couple of days as I have a really tight schedule today. | |
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FWIW
