There is the old saying in the markets of buy the rumor, sell the fact, or vice versa. The concept behind that is traders open their wallet before they open their mouth. Thus, when the fact becomes known, whether it’s an export announcement, EPA policy change, or USDA estimate change, the market has most of the factor worked in. And just like that, the rug gets pulled and those buying the fact are left holding the bag, as those who bought the rumor are taking profits. We saw some of the on Frida...
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