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| Too much moisture rather than not enough is the concern with center production areas and those to the northwest into Mato Grosso.
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China’s forecast looks a little colder for this weekend and next week in today’s outlook than it did Tuesday. There is still some concern for snow free areas of the North China Plain where a little wheat damage might occur.
WEATHER WATCH: India’s forecast is unchanged-many dryland wheat and rapeseed areas going without significant precipitation.
Friday’s S&D will most likely reflect some downward adjustment in Argentina’s corn crop. I think that is well into the market now.
Open interest continued to increase. In fact, in the March Corn & wheat, when the cash exchanges are considered, the OI in the spot increased slightly.
Be alert!!! When on the firing line & with Cordite in the air & bears are running fearing we won't take prisoners (they are right)---some can occasionally yet turn and can surprise us one more time. Never be overconfident
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Morning.
