Just read this

[bucket]

There is a lot of talk of feed wheat displacing corn. Has that been accounted for in this report. It seems there was some disagreement among experts/analysts/farmers as to whether the USDA had a handle on that in the last couple of reports.

Also in the last two months farmers from the US have mentioned how fast the corn piles were disappearing for the time of year, an indication of either high usage, or a smaller than expected crop and supports the statement about feed wheat.

[bucket]

Big number on soybean exports today.

How does a trader buy the rumour and then have to buy the fact as well????

China seems to have missed a digit in their corn estimate as well. Maybe the guy lost a marble on his abacus.

Brazil is still trimming its estimates today as well.

Now, throw the weather in the US and Canada into it, better find some more hay for that bull.

[charliep]

Sometimes trading the charts via technical analysis is a lot easier that trying to sift through all the market information/news. What direction is the market moving? Why? Are there key support or resistance areas? As Errol said, markets are never wrong. Just market analysts, traders and farmers who use or analyze them.

Kinda like sorting cattle. Who is more a successful animal handler. Someone who believes they can forecast exactly how an animal will react or someone that admits the animal will do whatever and then prepares themselves to respond accordingly?

[charliep]

Today's numbers to give a reality check. Cuts to South America deeper than expected but I wouldn't look for a big reaction this am. US wheat carryover a little tighter but an increease in the Australian estimate (ABARE number) more than offsetting.

Nothing new to impact the market one way or the other.

[URL="http://www.usda.gov/oce/commodity/wasde/latest.pdf"]USDA March[/URL]