Grains end the week mixed. Three day weekend and USDA AgForum ahead. February 17, 2023
May corn noted -3/4 cent trade for the week. Argentina's weather remains a problem but few are ready to suggest there will be a change to the poor US export pace. December corn fell -1/4 cent this week. Thursday's CPC weather update is long term bearish. As a reminder new crop futures at 600 would imply a 5% yield deviation from trend. Ukraine corn planting ahead is a question this year. Though we should expect a minor rebound next week to fill a chart gap we cannot say the four month downtrend will be challenged.
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