Exports: Both corn, soybeans surge
The primary destinations were China (723,500 MT), the Netherlands (125,500 MT), Spain (81,600 MT), Mexico (77,500 MT), and South Korea (58,900 MT).
Optional Origin Sales: For MY 2012/2013, optional origin sales totaling 126,000 MT were reported for China. Outstanding optional origin sales total 126,000 MT, all China. For MY 2013/2014, optional origin sales totaling 120,000 MT were reported for China. Outstanding optional origin sales total 120,000 MT, all China.
On Wednesday morning soybean futures were able to sustain most of their early gains well into the noon hour as talks of dryness in Argentina helped to provide support. An early-morning slide in the soybean market on Thursday did not inspire confidence, and March beans fell 5 3/4 cents to at $14.30 3/4 in pre-dawn electronic trading, while March soyoil dipped 0.28 cents to 51.03 cents/pound and March meal lost $1.8 to $417.3/ton.
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