date:Feb 17, 2013
forecasts for dry areas of Argentina and Brazil, while drier patterns for the harvesting areas, started the selloff last week. Accelerating the selling was net export sale reductions of 109,000 MT for 12/13.
It appears as though the advancing South American harvest is starting to gather export sale interest away from the United States. This could be a theme as we head into the rest of the marketing year.
Keep in mind that China was quiet last week due to their New Years celebrations and the ef