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UPDATED WHEAT RECCO DAY 1: Based on prior advice, SRW producers are 80% sold on ’23 crop and 15% hedged on ’24 crop. However, pending targets for HRW and HRS producers to advance ’23 sales beyond 50% in increments were never hit. With only 10 weeks left in the marketing year, HRW and HRS producers should take advantage of what’s left of the recent rally and sell another 15% from the bin now to get 65% sold. (Regardless of class, plan to be sold out no later than June 1.)   On the Grains Grains are mixed in overnight trade as of 6am corn was steady, beans firm, but wheat lower. Further strength in crude oil tied to an unexpected drop in U.S. crude oil stocks and stepped-up Ukrainian attacks on Russian oil refineries has helped push SBO above February highs and poised to take out January highs as well.   Beans may also be getting support from yesterday’s release of a private firm’s survey results putting bean acreage 1.7 million acres lower than USDA’s Ag Forum estimate, though that would still be up 2.2 million from last year. The early spring and rapidly warming soils promise rapid planting that…

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