Argentina indicates plans to control grain exports

This week's 3 1/4 cent gain for March corn may not seem like much but it does come with some honors. Today's high, though it did not hold into the close, was over that seen in November. New highs were noted for this three month uptrend. The 593 1/4 close on the March was the best close since July 1. The Argentine government indicated it had established some type of control mechanism for corn and wheat exports. Along with that, the two week Argentine weather forecast now shows more consistent net drying ahead. The general grouping of other factors remain...inflation, energy prices, Brazilian weather and fertilizer.

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