** Total Soybean Exports Above FGIS; Imports Ahead Of Last Year: The February International Trade Report with data for December, showed that the US exported just over 237 Mil Bu of soybeans during the month. The figure was down 56 Mil Bu (29%) year over year, but was 14.7 Mil Bu larger than what had…
Models Confirm Static Dry Weather Pattern for Argentina: The major forecasting models maintain spotty showers in the very near term across Cordoba & Santa Fe, but also have affirmed yet another one-off rain event this weekend. All models return near complete dryness and above normal temps to Argentina in the 6-15 day period. And the…
US wheat futures rallied 6-9 cents, again led by contracts in KC. Unlike interior sorghum markets, US HRW basis continues to find new multi-year highs, and still there’s no sign of a Central US weather pattern change through the end of February. Note that a close above $4.72 March KC, foreshadows a test of $4.90-5.00…
Corn futures recovered all of Monday’s losses, and more. CBOT corn has hit new three-month highs! Sorghum basis in many parts of the Plains has collapsed following China’s inquiry into anti dumping claims, but otherwise, US corn still appears cheap. As for sorghum, a close eye will be kept on outstanding sales, but amid rising…
CBOT soybean and product markets rallied through Tuesday as financial markets recovered, while Argentine weather forecast show limited rainfall across the soybean belt in the 6-10 day outlook. Soyoil led the day with March making it back to the 50 day moving average, while soybeans and meal each marked good gains. December soybean…
