Market Update for Feb. 12, 2018

Bryce Knorr says corn exports have been looking up. (audio)

The soybean market was back and forth last week. Argentina's forecast is hot and dry next week, which helped give market a boost. It's been fairly dry for the central growing region. China will be absent the market beginning Friday for a week for the Lunar New Year holiday. Soybean sales have been disappointing.

Corn exports, on the other hand, have been looking up. U.S. corn is the cheapest on the market for South Korea, which has made another purchase. But be careful about getting too optimistic as there is a lot of corn out there. Growers may be able to lock in profitable prices using hedge-to-arrive contracts.

Dry conditions on the southern Plains are expected to continue for another week, but there's plenty of wheat available on the world market. Demand is fairly tepid. 

Stocks are looking like they will post gains today. Crude oil is up more than a dollar.

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