Futures in London and New York were slightly lower, with the biggest weakness seen in London. Speculative selling was seen after early speculative buying dried up.. It still looks like the market has now turned trends up and that good speculative buying might be seen on further any price weakness. The big harvest in Brazil continues, but some of the processing will probably switch now to ethanol due to tax changes this week. The harvest pace has been below last year until now, but is now above a year ago.
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