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Less than 24 hours!

Agriculture.com Staff 03/28/2007 @ 1:45pm

There is not much to say with less than one day before the most anticipated USDA report of recent history. The market has really decided that this is crucial, in spite of the reality that the entire growing season is still ahead. The Prospective Plantings report has even garnered attention from the mainstream press, including the Wall Street Journal and CNBC.

With corn acreage attracting this sort of attention from people who probably usually yawn at USDA pronouncements, all bets are off as to what sort of reaction corn prices will have tomorrow. There is obviously still a lot of interest in corn futures prices from speculators who typically do not trade futures.

The Grain Stocks report has gotten lost in all the hype. It is perhaps just as critical to the market, as analysts want to see how significant feed demand rationing was with corn prices above $4.00. Once the rationing process has begun, it is difficult to reverse the trend. With that said, the market also understands that a small amount of rationing is required. It is a balancing act.

There is not much to say with less than one day before the most anticipated USDA report of recent history. The market has really decided that this is crucial, in spite of the reality that the entire growing season is still ahead. The Prospective Plantings report has even garnered attention from the mainstream press, including the Wall Street Journal and CNBC.

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