Cash Bids & Our Comments   To read our futures brokers daily market opinions, click on Daily Commentary Tab on the left.  Without major crop problems around the world this next year, hard to believe there is major upside price movement for US wheats thru the Winter.  Sell any 30c rallies. Scroll down on home page to look at electronic futures daytime and starting again at 4 PM PST.  Elevator hours will be 8am-5pm Monday thru Friday.   Office hrs will be 7am-4:30pm Mon-Fri.       2/5 - Wht down 2-5c and corn down 3c. gonna be flat line to down for a while.  Export sales were just ok last week!  Wht futs approx 15-20c above 2nd support lvls that shld hold next 30days.  Corn 10-15c above this same support.  Index Funds still long 1.3 bil wht futs and 2.3 bil corn futs. Spec funds short 300 mb both wht & corn.  Wht futs are down 70-90c since Jan11 and corn crashed 65c same time period.   Grain export pace picked up fractionally so export activity not the driver to raise prices.  US SRW and SW price with frgt still 60-90c uncompetitive into Egypt vs Black Sea is a big deal. Egypt bot 9mbu Russian/French on 2/4 at 4.75/bu FOB.  Next major rally will have to be lead by crop killing weather and not financials, so the odds are not very good for a major rally.  Market is volatile which can cause 20-30c rallies that need to be sold.   SW flat and and maybe enough Asian demand to keep OC price in sight of $5 Portland range. US Wht exports still  approx 70% of last yr pace, but SW is 20mbu above LY pace.   All USDA crop reports since August have been projecting increased crop sizes and stocks and have been very bearish.  As more regulations get written, financials & index funds will become less important market makers over time.  White Club in $9/bu range Portland is in tight supply even with Japan reducing their club % in WWW to min 10% vs 20% past 5 years or so.  Financial meltdown has slowed world trade by 35% volume..  in everything.    Elevator Hours 8am -5pm Mon thru Fri.   Office Hours: 7am - 4:30pm Mon thru Fri.

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