谷物在隔夜会议上急剧下降

谷物在隔夜会议上急剧下降with wheat leading the slide lower on a 19-cent decline. This follows yesterday’s 24-cent fall from its high on the March contract of 6.77. For corn, prices were off 6 cents in the night trade while beans fell 7 cents.

In wheat, Russia's Association of Grain Exporters said overnight it had stopped buying grain on the domestic market for export due to what it described as state pressure. Russia has started to restrict exports by toughening quality controls and reducing railway loading of grain to cool local prices as the country tackles a currency crisis linked to plunging oil prices and Western sanctions. Although bullish on its face, the fact that Russia would pull out of the export market has been the driving force behind the price rally in recent weeks, and as such the “buy the rumor sell the fact” mentality might be kicking in. In Germany, the winter wheat sown area for the 2015 harvest has been expanded by 2.8%, the national statistics office said on Friday.

In corn, South Korea’s Feed Association bought 60,000 MT of corn overnight to be sourced from the US or South America, while MFG out of South Korea bought 120,000 MT also optional origin with the US as a potential originator.

In Argentina, port workers went on strike Thursday demanding a year-end bonus as high inflation has cut into wage earning power there. Some private economists put the inflation rate at Argentina at 40%, far higher than official government estimates. For growing conditions, Argentina is expected to see rains easing in the near-term which should help wrap up planting which has been behind pace. Meanwhile, Southern and Central Brazil are expected to benefit from widespread rains over the next 1 to 5 day period.

—Cody Bills