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| Few nuggets of where the week willl go...........
Bottom line: Friday's reports should help firm the market, keeping basis strong. We recommended standing back to assess whether funds and end users step into to buy – both don't have much coverage on, and signs of panic could steamroll. Nonetheless, good crops in South America and inventory out of the Black Sea will continue to limit exports.
http://farmfutures.com/story-morning-market-review-bryce-knorr-22-3...
We continue with our corn and bean moves from Friday as beans move up in sympathy as well.
Tighter supplies and more feed use ran the numbers up to $7.23 but settled back a bit easier. Overnight we have made new highs to $7.24 and I expect we are set for even higher prices this spring. I guess this is the reaction a lot of farmers out their thought we would get in this report.
We will now need 'more than timely rains' this spring and summer to deliver a crop to ease supply concerns. This could be another wild ride.
Scott Shellady
Edited by 1586 1/14/2013 08:09
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Opening comments
