also paved the way for futures price gains for the wheat complex this morning. China’s 2020/21 ending wheat stocks are expected to fall for the first time since 2012/13 on increased 2020/21 feed demand, which USDA grew by 184 million bushels in today’s report to 1.470 billion bushels....
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so there is ample time for the crop to react. While FBN acknowledges the current situation, the crop could easily turn around with moisture at the right time of the growing phase. It still is too early