BOB'S REVIEW
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Feb 5, 2016  02/05/16 1:44:32 PM

The political ads have been stopped.  What will we do now?  It was nice to see a lot of people turn out for the caucuses.   It was also nice to see the national media leave the state.
 
The USDA will update our carryout and world ending stocks numbers along with SA production figures on Tuesday Feb 9th.  Ave trade guesses at this time have not changed much from last month.  There has been a little concern about some areas in Argentina being a little dry for this time of year.  More rains and larger coverage is expected this weekend.  If it doesn’t rain we’ll have something to trade early next week.  Last week’s soybean exports were negative.  Earliest we’ve seen net sales cancelled in 12 years.   Soybean crush margins have bounced off their lows.  Bean basis did improve 3 cents earlier this week.  The snow we had probably had something to do with it.  Nearby corn basis is still the best.   Both the corn and soybean futures have been trading near the top of the trading range for the past couple of weeks.  We will need some type of weather issue to make our markets move higher.    
 
Phase two has begun.  Hatch Grading started taking down the south Quonset Thursday.  They hope to have the cement hauled away and completely done sometime Saturday.  The automation (PLC screen) for the cement elevator receiving area is pretty much completed.  We still have a couple of motors to get wired.    
 
No grain markets Monday February 15th because of Presidents' Day.
 
Have a good weekend. 
 
Bob      
 
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