New York and London closed lower in what was called correction trading. New York held its up trend, but London failed to hold the breakout from Tuesday and trends are mixed again as futures are now back in the trading range. Ideas of smaller offers from Brazil and the rest of Latin America are still around, but the market seems to have factored these ideas into prices already. The weather forecasts kept outlooks for near to above normal temperatures and mostly dry conditions in Brazil. Producers are still worried about an extended outbreak of dry weather as it is almost flowering time in Brazil.
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