Limit,
I knew that sale was coming. I don't know how, just felt exports were going to start coming in., just as ethanol started to effect the market so early in 2006. Sounds and is a bit weird. I suspect that we will keep seeing 'purchases' from China., and China supply will now start raising prices.
Corn may go up faster than the other grains, if it does.
Not claiming anything here. Only if the breakout in beans holds, there will be a huge buying spree. Beans could hit above $16.50. $15.50 this week is possible. and it could always go the other direction.
I just can't see the 1.4 million metric ton sale causing the market to fall this same week. I will be the first one to admit that my logic may be a bit shotty. Also know there are educators in the marketplace calling the move up in wheat a fish hook formation, which I never saw it as.
Fundamentals, also are saying that 1/2 of Ukraines corn crop is 'poor' due to drought. frost damage has also been confirmed in US from mid April on us corn.
take care,