Mixed to cautiously neutral with fundamental analysts acknowledging June 11 WASDE catastrophic U.S. production shock (1,048M bushels Hard Red Winter lowest since 1957) yet skeptical about sustainability of drought premium given global stocks at 31.7% stocks-to-use ratio (275.42 MMT) expecting season
Copper quietly delivers, wheat explodes while nobody's watching, and crude oil reminds the desk that the war premium has a pulse.
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