Exports: Japan buys 43,000t feed barley.
Comments: Weekly export sales fell hard from 1.7mln.m/t’s but hey, 1.2mln. ain’t bad; ethanol report showed production up 13% on week, some talk lower corn prices could offset any lowering of the mandate?; China says will continue to stockpile domestic production with prices higher than year ago; Argentine plantings said 42% and under average; major storm coming Sunday to Midwest mostly rain; open interest little changed in total but big rolling as Dec. loses 27,500 in spot month, obvious, liquidation gaining speed; possibly corn can close higher on the week, over $4.26-3/4 for a minor bull victory?
Exports: So.Korea buys 20,000t soymeal opt/org.
Comments: Weekly export sales fell moderately to 848,500t led by China’s 667,100t (unknown cancels 231,000t and U.K. 60,000t); soymeal sales steady at 283,200t and soyoil fell hard from 65,900t to just 7,200t but not too surprising maybe after such large prior week purchases; Argentine plantings seen at avg. at 22% complete; Asian CPO set to challenge 12-month high in its current rally; India ‘mystery’ solved? Apparently a combination of sales and a lower OLD CROP production backgrouned their pre-new crop harvest (soyoil imports up 5% to record large, palm oil up 38%; deliveries 250 and even some mini-beans at 5; more soyoil positive news: Philippine reports 3 mln. coconut trees destroyed in its typhoon; China says will continue stock piling domestic soybeans fro farms at steady on year prices, ends April 30th; NOPA crush estimate 155mln.b u.; open interest rose 5,100 amid light volume…bit of a mini-battle, eh?; January holding support as we see it, a likely bull defense a move/close under $12.88.
Exports: Egypt buys 240,000t French/Romania;Japan buys 120,000t opt/org.
Comments: Well, weekly export sales sagged 40% to 287,800t so demand weakened enough to pressure our prices obviously (to repeat, we have big competition still and we were near $6.60 Dec. last week for point of reference); Russian grain harvest to date +93 mln.m/t’s vvs. 74mln. but again, nothing really new about it; open interest rose—–7,000 led by March up 10,400 amid strong volume and a major battle ground forming over major support ($6.40-6.35). Oversold but needs a trigger to get a ‘sustainable’ rally.