Freight shot up high nearby yest with market movement and near $4.00 corn.  still dealing with high water on the IL River and OH!



UP 4

Thoughts on Argentine crop ideas get worse, maybe under 35 MMT. Export Sales were GREAT! -at 61.2 vs expectations of 39-55 and 18.6 per week needed. Big buyer was Japan taking 20.3 mill, Egypt 6.7 Mexico 8.6 S Korea 5.3, and Saudi Arabia 4.5 mill. Unshipped sales have reached a new record of 848 mill bu.  Brazil’s planting of the safrinha crop is mixed with MG near avg, Parana is lagging behind 20 % behind last year. Corn acres could fall short of expectations there!


UP 12

SA weather, good export sales, and a new sales helped support!  Some 63KMT was sold to unknown and another 123K to China and unknown.  Export Sales were hearty and above expectaions at 31.5 mill vs expectations of 15 -26 with 16 needed per week.  That big Carryout is starting to squeak a little!  Mexico was the big buyer at 12.3 mill and China cancelled 7.9 mill.  Meal Sales were so-so at 139K vs expectations of 100-300.  ABIOVE raised its Brazil Prod estimate again by 5.2 to 114.7 mill. Their exports are est at 68 MMT, versus 65 back in Dec and vs 67.8 last year. Others think the Brazil crop is still big enough to offset the Argentina drought.  NASS Jan Crush is thought to be around 173.4 and compares to 170 last year.  An IA based company raised the est for  this spring’s US plantings from 91.5 to 93.7 million acres. (The most recent USDA Forum est was 90.0)



UP 20

What a NICE run!! The dry-dry-dry outlook for the Plains has hardly any relief in sight. Conditions have been crumbling lower.  (If you haven’t sold any new wheat yet, what ARE you waiting for??!!)  Export Sales were a bit light at 7.0 vs expectations of 7-18 with 11 mill per week still needed.