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NWMO | South American crop mostly planted and good forecast. Record production numbers being projected ~167M metric tons. Soybeans are looking at a poor production to use ratio currently.
How could it change?
1)USDA lowers ‘24 USA production numbers
2) South America experiences crop issues (specifically widespread drought)
3) domestic usage is promoted/bolstered (45z guidance and tariff foreign oil imports to the point of being uncompetitive)
4) providing guidance for year round E15 to strengthen grains in general | |
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whats the fundemental reason
