Two wheats make new lows. Corn posts its second lowest close.

Corn ended the week with a close that is the second lowest of this long term downtrend. March is just 6 cents away from retesting the recent low. Corn continues to do the best job it can in avoiding new lows. The heavy US balance sheet is lightly offset by concerns over Brazil's smaller first corn crop. Its reproductive phase, when weather really matters, runs mid-December through January.

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