Soybeans heading to Feb lows

Overnight- Corn and soybean futures were lower while wheat finished flat.

Export sales were within expectations and will not spur any buying in the markets.

The reversal in tone from the Fed has the USD moving higher and hinders the export market.

Weather across the Midwest has been conducive to production and while we hear of continued dryness in the Central Plains and now Turkey, Russia and Ukraine are showing signs of wheat stress none of this has translated into a wheat rally that could help corn.

Funds seem to be stepping on the gas pressing their short positions this week.

Bottomline

The overall sentiment in the market is very negative as we are moving into the heart of US planting and the market is going to need some positive price news to shake it out of its current state. NFC Grain Comments Options -new (40)