Summary: South American rains, profit taking and fund adjustment pulled the market lower this week. March wheat lost 41 cents while the nearby corn contract dropped 31 cents. The big sell off happened in the soy complex. Nearby soybeans plummeted $1.05. March soybean meal went down $41.60 per ton. March cotton expanded 86 cents per hundredweight. Over in the dairy parlor, February Class III milk futures gave back last week’s gains and then some with a $2.72 sell off or a drop of 14 percent. A course reversal in the livestock sector. February cattle gained $3.95. March feeders jumped $8.32.
