Summary: A perceived bearish USDA report and cancelled orders sent the grains downward and almost like clockwork buying returned on the price breaks. March wheat dropped 5 cents while the nearby corn contract fell by a dime. Even with the Chinese on holiday, buyers saw value in a price drop of 60 cents in 50 hours. Nearby soybeans gained a nickel. March soybean meal declined $3.30 per ton. May cotton expanded by $4.64 per hundredweight. Over in the dairy parlor, March Class III milk futures shed 17 cents. Green in the livestock sector, April cattle added $1.40. March feeders improved $2.57.
