1/27/12
Corn up 7, beans down 4, o/c wheat down 6 and n/c wheat was down 5 cents.
Crude Oil- 99.76 up .06
US Dollar- 78.935 down .578
Dow- 12,660.46 down 74.17 points
Grains were on the weak side for most of the day, but right before the close corn had investment money coming in and helped it close near the high. Funds today bought around 8,000 contracts of corn, but sold around 3,000 contracts of beans/wheat. Grains since last Friday have had an impressive run, with support coming from strong cash markets and damage from hot/dry weather in South America, which have helped corn rally 31 cents, beans 32 cents and wheat 37 cents. Opening calls for Sunday evening have the grains steady too mixed.
Josh Waters
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Fertilizers
