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1/27 -  Wheat down 2-9c, but corn up 7c.  Wheat close to 100 day moving ave resistance again and corn 20c away.  good week with wht up 25-35c and corn up 30c.  SW on fire and up 60c since Jan10.   Asia coming to the US to buy wheat as our export competitors are backing off on sales due to tight logistics.   Will see them back selling again soon though as price keeps rising.  12 mil bu of PNW SW sold last wk! crop year high as it currently the cheapest wheat to Asia.   Good rains in S.America this wk helping solve some of their problems, but Argentina yields hurt the worst. .    US exports for the week of Jan 16 good with 38 mil bu corn sold and 22 mil bu wht sold.   SW price has climbed from $6.20 to $6.70/bu PNW.  Jan12 crop report was mostly neutral but the market was expecting a bullish report for corn and didn't get it.  Both wheat & corn futs dropped 30-40c to close out Jan12 & 13.   US corn crop size raised & world corn carryout increased 40 mil bu. Same for wheat, as world carryout increased another 55 mil bu.  Caught the trade off guard long & wrong.  This was the final crop production report for the 11 crop.  2012 acres in US also estimated up for wheat & corn which is also bearish new crop prices.       Think Dec 15 lows will provide a support level.   Weather now has control for the next 6 mos.   

World weak financial markets and the Arab World unrest will also get their chances to take commodity prices down.  Spain helped kill the wheat rally 1/3. Seems to be no safe haven to park your money and the specs and funds are stepping aside right now.   EEU struggling to shore up the Euro currency and convince member countries to tighten up their fiscal belts.  Any solution is longterm, but they have to start somewhere. 
 Aug, Sep, Oct, Nov, & Dec crop reports have increased World wheat & corn production & supply.  Wheat & corn prices  had dropped over $2/bu since late August to mid Dec.     

   
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