Overall, weekly grain and soybean exports for the week came in about as the trade was expecting. Corn export sales for the week ending April 9 were above the pre-report trade estimate of 37.4 million bushels as old crop sales totaled 34.6 million bushels along with new crop corn of 5.9 million bushels totaling 40.5 million.
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We've expanded our technical coverage of various markets. We now display technical charts, commentary and trade recommendations for Crude Oil, the US Dollar, the Soft markets, and Seasonals in our Advanced Charts section. Check it out!
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China purchases of US soybeans for the 2008, 2009 market year are the largest of the five main world buyers of US soybeans at 38% greater than year earlier levels. The remaining four largest buyers are all showing smaller purchases than year earlier levels with the EU 25 down 37%, Mexico down 28%, Taiwan down 9% and Japan down 8%.
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As of this morning, Allendale will start 2009 corn hedges. We have orders placed for 35% of expected corn production using the 3 way option strategy. That strategy provides a floor by buying a 420 put, and lessens the upfront cost by selling a 360 put and
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I'm Paul Georgy, President and CEO of Allendale, and as the host of the Commodity Coffee Shop, I bring you all the early calls and overnight trade information that you need to get your day started. Will the stock market drive us lower? How will this report affect corn or bean prices?
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