date:Feb 06, 2013
emand has been rationed in this area of the balance sheet but many questions remain as to how much corn the domestic market is using for feed which is adding support.
The Argentina weather forecast was supportive this morning after weekend rainfall came in below market estimates. The 5 day precipitation outlook is dry which added risk premium to the market.
Thoughts that Argentina production could be slashed on this Friday's USDA Supply and Demand report added a bullish tilt to the trade but w