Exports: None Visible.
Comments: 1st Notice Day Friday; Open interest fell 11,200 led by March off 36,200 amid heavy volume. We’ll see if corn’s ‘double high’ holds at $4.56-1/2. Not much fresh news to chew on.
Exports: Sold China 568,000t OLD CROP.
Comments: Add to this, Brazil’s 2nd largest pot at Rio Grande closed for two weeks due to an accident. Never underestimate China and at least the rally for THAT reason I can live with but I cannot help wondering if this is part of futures squeeze i.e. just more to cancel in 3-4weeks? They do trade futures you know. No excuse, wish I was privy to it or forecast it. Open interest rose 5,800 even as March falls 14,300 amid heavy volume. We’ll keep trading the charts for now.
Exports: Egypt cancels 110,000t SRW.
Comments: March wheat now has a near ‘triple high’ at $6.20-3/4. Yesterday’s early break I guess covered the cancellation. Trading affair. Open interest fell 9,200 led by March off 10,700 amid strong volume.