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Advisor

other seasonal

BTW, in normal crop years the seasonal on grains tends to turn somewhat negative after labor day. A good rule of thumb for a harvest bottom is the 50% harvested reporting level although that isn't that strong.

 

Perhaps of greater siginficance, oil led the spring commodity bounce on ideas that the market would be in balance by Q4. Opinions vary but in general summer draws were not heavy and we appear to be returning to weekly builds as the peak demand season ends.

 

Correlation between oil and the grains runs pretty high.

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