Jan 27th 2012
SDWG Grain Originator
Corn - 4 higher
Yesterday had the corn market in positive territory the bulk of the session on good weekly exports before a round of selling pressure came in late to have us settle unchanged. For the morning we look to open in line with the night session higher. All 3 of my indicators remain bullish as we are looking for a close above 6.36 CH to continue the trend higher.
Soybeans - unchanged
Export sales yesterday a little disappointing but continued concern over South American crop kept us in positive territory. The market will contiue to debate SA losses vs adequate 11/12 US stocks and the need to buy US 12/13 acres. All my indicators remain bullish with 12.45 SH as my next objective.
Wheat - 2 lower
With US wheat becoming more viable on the world stage we have posted nice gains recently as we managed to close in positive territory for the sixth straight day yesterday. Fear of winter kill could help keep this market a little nervous and short coverings could be supportive in the days to come. All thee of my indicators remain bullish old/new KC/ Minneapolis.