Todd's Take
Todd Hultman DTN Grains Analyst
Tue Oct 21, 2014 06:20 AM CDT

As an analyst covering grain markets every day, I have to admit that 2014 was one of the easier years to call. In wheat, there was uncertainty early in the year as to how Russia's advance into Ukraine would play out; but other than that, early expectations for all three grains were bearish and went mostly unchallenged. I had suspicions about this spring's soybean planting, but USDA's June 30 estimate of a record high 84.8 million acres quickly extinguished all doubts -- lower prices were clearly in the works.

As it turned out, wheat continued to flow out of the ...

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