Good morning!

The USDA released their weekly export sales report at 7:30 this morning – solid exports for beans while corn came in at the low end of guesses.  Overall there was nothing in this report to entice a sharp reaction by the futures market. In other fundamental news, Russia’s prime minister came out and cemented the idea that Russia will NOT ban exports, placing blame on speculators for spreading those rumors. 

In outside markets, the dollar is slipping lower again today, which is friendly to commodities.  The potential for Moody’s to downgrade U.S. debt is helping push it weaker.  In world news, the riots in the Middle East are lending support to the crude oil market – causing crude to test its recent highs.  This situation has pretty much all markets feeling uneasy today. 

Other than that, this appears to be a quiet day in the grain trade, currently:

Corn is up 1-2c

Soybeans are down 3-4 cents

http://www.fccoop.com/markets/information.cfm