SNOW ANYONE........... Thursday's weekly export sales report came out as expected. It showed last week sales for future shipments were strong for corn and beans ahead of this weeks Asian lunar holiday which began Tuesday for one week. Asia loaded up on feed grains as holiday celebrations have government workers sitting on their hands. Corn exports were 1.166 million metric tons our highest weekly sales number of the new year. It's Asian markets, which account for three quarters of our exportable feed grains annually, that were in for 584 t.m.t. of the total versus the two weeks prior of 207 and 197. The increase came as they overbook ahead of their weeklong holiday. What's missing and eagerly awaited was any purchases by China. The US grain Council this week stated China's imports of corn, should exceed 9 million metric tons as their stocks were depleted on poor weather conditions in 2010 and the movement of reserves to outer regions to curb inflation. After hitting new contract highs for the year Wednesday traders wonder if a measurable correction is next. There's always a dip a after a new high but next week is set up to unveil more bullish news for the feed grains. The coldest temperatures of the year enter midweek across the mid-and Southwest states. This means more soymeal and corn for cattle feed ration is needed to maintain their weights. Cattle in the western plains will shiver in the cold and lose weight quickly and that's not what the feeders want. So, more feed will move to them. With near record snows in the Midwest grain belt states, it will take a handsome cash price increase to get farmers out from in front of the fireplace to plow out bins to move grain off the farm. Additional bullish news is the February 9 USDA monthly crop report due for release at 7:30 AM central time. Traders don't want to be short into it as it's been a long time since we've seen a bearish report. Traders will fear the report again will raise exports, usage and overall demand lowering ending stocks already critically low for corn and beans. For beans, our weekly export sales report came in at 1.032 million metric tons up 32% from the week prior and 71% over our four-week average. China was in for 354 t.m.t. of the total. These numbers are for future shipments. Actual shipped beans last week were 1.119 million metric tons with China taking 707 t.m.t. Even though Brazil usually captures much of the business this time of year as they are 60% through their harvest, It's another example of China's appetite for protein exceeding worlds ability to produce. Soybean sales on the new marketing year are at 89% of the 2011 USDA marketing year estimate. The marketing year goes all the way to September 1. Clearly the government is behind on export estimates setting up potential for another measurable drop in soybean ending stocks on next Wednesday report. Wheats weekly export sales last week gave way to feed grains with only 534 t.m.t, off 40% from the week prior and on two fronts. One, Asia's needs are for corn and beans. Two, buyers in the Middle East paused on new purchases with political unrest everywhere. Egypt ports were at 60% operations, slowing imports. The longer-term looks brighter. We know that the Tunisian government collapsed after a failed promise to lower bread and milk prices. Once Egypt's fate is sealed, we expect measurable wheat shipments to begin as it makes food now versus feed ration grains like corn and soy meal run through hogs and chickens for food later. China's wheat buying has never been a pricing issue, but drought continues in their largest wheat growing regions with talk locally it's the worst in 40 years. Next week also leaves more concern about winter kill to our US dormant wheat crop. It's was a dry snow with heavy winds that hit this week. Wheat fields were blown through leaving young wheat seedlings exposed to the s freezing temperatures that followed. Next week sees another artic blast, the coldest of the year lending thought of more damage. Note, our winter crop went dormant in November at the lowest quality rating in 15 years due to dryness. 2011 continues to set up similar to 2008 when historic high grain prices were met. One difference, were more bullish on three fronts. Ending stocks are projected lower entering this new year, demand is greater and index and trend following funds have 70% more money to put into the grain move. Technicals read like this. March corn support lies at 6.58 Monday. A close under and 6.42 is next. Resistance is 6.80. A close over and 6.96 is next. March beans support is 14.25 then 14.10. Resistance is 14.65 then 15.00. March wheat resistance remains 8.65. A close over and 9.00 is next. Support lies at 8.25 then 8.00.