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Quarterly Grain Stocks and Acreage numbers were good, but not miraculous
The grain markets were positioned to react to basically anything that came out of today’s Quarterly Grain Stocks and Acreage Report, so when the friendly numbers came in, the prices jumped upwards and held those gains through the end of the day. Allendale commodity broker Greg McBride said the grain stocks were better than expected. McBride said a lot of the excitement in the grains came from the acreage side of the report. While this report was a nice jolt for the markets, McBride said it’s...