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In this episode of the Morning Market Update, Steve from Allendale provides an overview of the current state of grain markets. Despite continued selling by funds, there seems to be some support at these levels, indicating a potential turnaround. Steve discusses the price levels for corn, wheat, and beans, highlighting the resistance and support levels to watch out for. He also mentions the drier forecast for Brazil, which could impact the bean market. Additionally, Steve compares the grain market to pushing a ball underwater, explaining how short covering can lead to market fluctuations. He emphasizes the need for a fundamental shift to change the bearish sentiment in the market.
