General Comments Following the bullish reports from USDA, grain and soy futures prices strengthened as the need to slow down the domestic use of corn and both domestic and export demand for soybeans was made obvious. However, with large South American crops drawing ever closer and U.S. spring planting barely more than two months away, markets can perhaps be best described as nervously bullish. Many traders now may be reluctant to be short, but the longs tend toward a short-term view, often using the next rally to cash in. Thus, the last two overnight sessions have opened with profit-taking pushing prices below the previous closes. In turn, the early overnight price dips have been met by fresh buying, causing prices to recover and move hi...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Biofuels, Energy, North America