Hi.

Thanks Trades, and Lee.

Here is the article. In this article it states that USDA reported the six largest export sale to an unknown buyer (China expected) of 1,440,000 metric tons. It is the sixth largest sale in recorded history, since 1977.

Interesting to me is, this is no bs. news. The bs. news would appear to be bearish news at this time. Any additional export sales could send prices higher, as well as any additional news on any type of crop damage, or drought.

When bean close above $15.00 early next week, I think it would be justified to see the wheat and corn correct into a mid trading range. I did feel that the pivot points were interesting to observe that you mentioned. As we all know there is a lot of deception in the grain market. But this report is real.

I have seen posted that funds are short wheat, particularly. I do wonder how much less short they are this week from last week?
In 2006, we saw corn and wheat trading at levels of $2.35. No one thought that Ethanol would effect the market so early. China exports will effect this market and help raise prices. Will Soybeans continue to rally to new highs? Will Corn and wheat raise their prices $1? ??

TOP STORIES:

Strong Demand,Tight Supply Views Seen Limiting Corn,Soy Delivery Intentions

Deliveries against Chicago Board of Trade May corn and soybean futures contracts on first-notice day Monday are expected to remain light in an environment where strong demand is keeping supplies tight.

STORIES OF INTEREST:

CFTC AGRICULTURE: Managed Funds Add Longs In CBOT Soybeans

CHICAGO (Dow Jones)--Money managers increased their net long position in Chicago Board of Trade soybean futures, government data showed Friday, amid strong demand and tighter global supplies.

USDA Says 1,440,000 Tons Of Corn Sold To Unknown In '12-'13

WASHINGTON, (Dow Jones)--Private exporters reported to the U.S. Department of Agriculture export sales of 1,440,000 metric tons of corn for delivery to unknown destinations during the 2012/2013 marketing year, the USDA said Friday.

USDA: 120,000 Tons Of Corn Sold For Delivery To China In '11-'12

WASHINGTON (Dow Jones)--Private exporters reported to the U.S. Department of Agriculture export sales of 120,000 metric tons of corn for delivery to China during the 2011-12 marketing year, the USDA said Friday.

USDA Says 110,000 Tons Of Soybeans Sold To China In '12-'13

WASHINGTON, (Dow Jones)--Private exporters reported to the U.S. Department of Agriculture export sales of 110,000 metric tons of soybeans for delivery to China during the 2012/2013 marketing year, the USDA said Friday.

USDA Says 116,000 Tons Of Soybeans Sold To Unknown In 12-13

WASHINGTON, (Dow Jones)--Private exporters reported to the U.S. Department of Agriculture export sales of 116,000 metric tons of soybeans for delivery to unknown destinations during the 2012-13 marketing year, the USDA said Friday.

MARKETS

US GRAIN AND SOY REVIEW: Nearby Corn Surges On Export Sales

CHICAGO (Dow Jones)--Near-term U.S. corn-futures prices jumped 4.6% Friday after the federal government reported the sixth-largest export sale ever for the grain, which analysts believe is headed for China.

-By Andrew Johnson Jr, Dow Jones Newswires; 312-347-4604; Andrew.johnsonjr@dowjones.com

(END) Dow Jones Newswires