2-19-13 AM Comments
Tuesday, February 19, 2013, 8:05 amSubmitted by: Jon Setterdahl
Markets back trading today following the 3-day weekend. South American precip over the weekend was scattered in Argentina, providing soybeans a reason to be higher this morning. Private crop estimates edging higher for Brazilian soybeans and Argentine corn.
Other news is fairly light. Ag Outlook Forum taking place in D.C. this week, with ’13-’14 crop balance sheets expected to be released sometime late week. India announced the intention to sell 5.0 MMT of feed wheat from gov’t reserve stocks in the next few months.
US Midwest preparing for mid-week storm to provide much-needed moisture to western corn and wheat growing areas.
Thus far corn is steady and soybeans are up 10-20 cents
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