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G r
a i n C o m m e n t s
for
Monday
February
6, 2012
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CORN
Closed as it
opened...narrowly mixed. In between, early it looked like corn wanted to have a moderate break the
way it opened (mixed then fell over 5). However, the rally in beans stalled that break and for the rest
of the
session looked to beans for direction. Wheat's turn-around strength also noted. For me, likely more
choppy
action ahead Thursday's USDA report.
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BEANS
Very modest
gains after spending the day largely moderately higher.Support apparently remained from lack of
South American crop estimate convictions and from more rumors of China in for our beans. Worth noting:
Celeres sees Brazil's exports only falling 1.3 mln.m/t's due to weather losses. That 'ain't much.
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WHEAT
Moderate to
light gains but still the best on the floor. A weak Euro boosted E.U. wheat prices ans as such, our
traders might have seen that as supportive U.S. competition; no real crop damage reported out of Europe;
U.S.
wheat in decent shape in central/southern plains after recent rains/snow; deep freeze moved out of
Russia/Ukraine, damage said to figure until spring; Russia standing tough about NO export restrictions
(take with
a rather large grain of salt with those guys though).
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GENERAL COMMENTS
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DISCLAIMER: This information is not to be construed
as an offer to sell or a solicitation or an offer to buy the commodities herein named. The
factual information of this report has been obtained from sources believed to be reliable, but is not
necessarily all-inclusive and is not
guaranteed as to the accuracy, and is not to be construed as representation by our firm. The risk of loss when trading futures and options is
substantial. Each
investor must consider whether this is a suitable investment. Past performance isnot indicative of future
results.
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