Keith Deutsch knows that part of his job is promoting his crop. He knows he needs to be realistic, too. “It just doesn’t look too good for this spring,” says Deutsch. a Plaza, N.D., farmer and president of the U.S. Durum Growers Association. “It may sound strange for someone from the association to be saying that.” But Deutsch and other area durum boosters say they have to acknowledge the obvious.
The corn market lost 5 cents in March and 15 cents in December last week. Corn continued to trade in its sideways pattern. The market found support from fresh export sales along with tight ending stocks, while the new crop market is finding pressure from larger acreage and yield estimates.
The corn market gained 10 cents last week. The futures came under pressure mid-week with larger acreage and production estimates for 2012. Buying interest did resurface late last week with fresh export sales.
The corn market remained unchanged last week and traded near $6.40 in the March contract. The futures traded in a sideways pattern last week as it lacked any fresh news. Decent export sales last week, a firm cash market and lack of farmer selling offered support.
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