Gary Hofer: MARKET BULLETS
Disagreement Among Grains
There is a partisan disagreement in the grain markets. Wheat called for a low and reversal to the upside on March 6. Some observers commented that it was too early in the spring debate season to make such a decisive point. Corn and soybeans, opposing the point with many negative pledges coming in from Latin members, briefly filibustered, then moved to push lower in direct opposition to wheat.
Argentine corn was seen in the lobby at $8 per metric ton below U.S. offerings in the export markets. Soybeans were seen to be organizing a massive fundamental negative vote since their Southern hemis...
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