date:Feb 07, 2013
March corn traded lower on the day as traders took profits after the gains over the last 2 weeks ahead of this Friday's USDA report.
Many in the trade expect a slight uptick in the US carryout from the current level of 602 million bushels due to a slowdown in the ethanol and export demand pace.
The tight US stocks/usage ratio continues to add underlying support to the market. The weather in Argentina is dry over the next 5 days but some forecasts suggest a better chance for rain early next wee