Fuel for the Fire
- Arg. stops corn exports into Feb. They have sold 89% of there corn so that leaves about 168mbu.
- Arg. taxes corn exports 12% and bean meal at 33%
- Arg has planted 61% of there corn vs. 76% last yr. and 80% avg.
- Arg. still had about 7 mil acres of beans to plant
Best bull markets are demand driven ones.
We cleared 475 for the March Corn contract which leaves open down the road chart wise 519-522.
March Beans cleared 1290 and now has imho res: 1367-1376 and then 1407.50
USDA Report Tuesday the 12th
Trend is your friend
Foot note here: MX placed a ban on GMO corn Friday. Don’t have any details.