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Comments: Grain and soybean price action was mixed last week as soybean futures rallied on increased concerns about Argentina's crop following disappointing rains the weekend of Feb.
16-17, while corn and wheat futures declined further.
The soybean market ended the week on a clearly negative note, however, as old-crop futures reversed downward on Friday under pressure from export cancellations.
Wheat futures remained in a steep downtrend under pressure from beneficial precipitation in the U.S.
HRW wheat belt and technical selling.
Corn futures were pressured by very weak export demand and the weakness in wheat prices.
A stronger U.S.
dollar was a negative factor across commodity markets along with worries the U.S.
Federal Reserve could end its monetary easing program early.
Livestock futures remained under pressure from demand concerns and commodity fund long liquidation with hog futures suffering further heavy losses.
News that China will require third-party verification that pork imports are free of growth promotant ractopamine added to the pressure on hog futures.
Cotton futures chopped sideways as pressure from a strong dollar was offset by prospects for U.S.
cotton stocks to tighten.
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