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Grains Trade Mixed -- China Back in Soybean Market

Mar 06, 2012

Soybeans have rallied off the open on news that China is back in the export market. Still unconfirmed amounts, but early chatter is that the sale was for 2 cargoes for April delivery. At the time of this post we see May soybeans up 6, corn down 5 3/4, and Chicago wheat down 11 3/4.

Here in the first week of March it is time to start looking at Crop Progress, and this morning Brock and Logan look at the early condition of the Kansas City wheat crop. Rain and snowfall covering areas of the central plains this winter have helped top soil moisture content, and as a result we have seen significant improvements in wheat condition in Kansas, Oklahoma, and Texas since planting.

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