GRAIN HIGHLIGHTS

TOP STORIES:-BUENOS AIRES (Dow Jones)--Argentina's corn and soybean crops probably will receive widespread rainfall next week, the
biggest storms in months as the farm sector reels from the worst drought in 50 years, a climatologist told Dow Jones Newswires on Tuesday.
Ag Canada Predicts 2009-10 Wheat Acreage Down, Canola Up
WINNIPEG (Dow Jones)--Agriculture and Agri-Food Canada expects area seeded to spring and durum wheat in the spring
2009 will be down significantly from a year ago but expects canola acreage to set a record.
RENEWED ENERGY: Canada Eyes US Ethanol Mkt As Own Goals Loom
OTTAWA (Dow Jones)--Canada's fledgling ethanol industry has taken some hits from the global economic slowdown, but it
has largely sidestepped the turbulence south of the border.

S. African Exchange Creates Corn Contract Based On CME
CHICAGO (Dow Jones)--CME Group Inc. (CME) said Tuesday it signed a license agreement with the Johannesburg Stock
Exchange to create a corn futures contract for the South African exchange.

STORIES OF INTEREST:

Argentine Farmers Disappointed With Government's Drought Aid
BUENOS AIRES (Dow Jones)--If Argentine President Cristina Fernandez thought she would win much support Monday by
announcing new aid to drought-stricken farmers, she was surely disappointed Tuesday after they rebuked her offer.

Lower US Futures Prices Temper Brazil's Physical Soy Trade
SAO PAULO (Dow Jones)--Brazil's physical soy trade was softer Tuesday due to lower soybean prices in the U.S. and
neutral foreign-exchange conditions, analysts and brokers said.

Brazil Raises Protectionism Specter With Import Moves
SAO PAULO (Dow Jones)--Brazil's government has decided to establish a new set of bureaucratic hoops for importers,
raising worries about creeping protectionism.

Argentina Disallows Wheat Export Permits On Low Stks-Source
BUENOS AIRES (Dow Jones)--Argentina's agricultural trade office, Oncca, is disallowing wheat export permits for
2008-09 to ensure domestic supplies, a person at the office told Dow Jones on Tuesday.

Technical Special:CBOT March Soybeans Roll Over From Uptrend
Chicago Board of Trade March soybean futures prices have "rolled over" from the uptrend that had been in place from
the early December contract low of $7.79 1/4 a bushel.

Commodities Mkt Impact Weather: Argentina Rain Tonight
OMAHA (Dow Jones)--The latest run of the computer model has more rain in the forecast for the Argentine corn and
soybean areas Tuesday afternoon and night with amounts of 0.25-1.00 inch with locally heavier.

Commodities Mkt Impact Weather: Favorable Weather In Brazil
OMAHA (Dow Jones)--A chance for rain early next week in central Argentina, continued favorable weather trends in
Brazil's crop areas, generally dry in the Southern Plains, wintry weather in the central U.S. through late week, and a
warming trend for next week in the Midwest are the main weather items for the commodity trade's attention Tuesday.

South Africa Cuts Corn Planting Area Estimate - I-Net
JOHANNESBURG (I-Net Bridge)--South African farmers have planted 2.596 million hectares of corn in the 2008-09 season,
below last season's acreage of 2.8 million hectares, according to a survey by the Crop Estimates Committee released
Tuesday.

South Africa White Corn Exports Fall To 33,014 Tons - I-Net
JOHANNESBURG (I-Net Bridge)--South Africa exported 33,014 metric tons of white corn last week, compared with 33,561
tons the week before, the South African Grain Information Service said Tuesday.

Brazil's Granol To Invest BRL44.5M To Extend SoyCrush Plant
SAO PAULO (Dow Jones)--Brazilian grain company Granol is investing 44.5 million Brazilian reals ($19.3 million) to
boost its soybean crushing capacity and production of biodiesel, Granol's press officer confirmed on Tuesday.

BASF Develops New Process For Herbicide-Resistant Canola-FT
BASF SE (BAS.XE) said it has developed a new herbicide-resistant canola using a less controversial form of genetic
modification, the Financial Times reported Tuesday.

UPDATE: DuPont Cuts '09 Guidance Amid Erratic Demand
CHICAGO (Dow Jones)--DuPont Co. (DD) cut its 2009 earnings guidance Tuesday due to slowing global chemical demand, but
expects to retain pricing power despite falling input costs.

Farmers In Recession-Hit Latvia Protest For State Aid
RIGA, Latvia (AFP)--Several thousand farmers took to the streets of Latvia Tuesday, demanding government aid to help
them through a deepening economic crisis and threatening to step up their protests.

THE MARKETS:

CBOT Corn Review: Falls Sharply On Argentina, Poor Demand
CHICAGO (Dow Jones)--Rainfall in Argentina and weaker soybeans sent CBOT corn futures lower Tuesday, traders said, as
the market dipped and closed below its 10- and 50-day moving averages.

CBOT Soy Review: Lower On Rain Prospects, Broad Weakness
CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade backpedaled lower Tuesday, stumbling on improved
weather prospects for Argentina and broad-based commodity selling.

US Wheat Review: Falls On Spillover Selling, Profit-Taking
CHICAGO (Dow Jones)--Spillover pressure from weak neighboring and outside markets dragged U.S. wheat futures lower
Tuesday.

ICE Canada Grain/Oilseed Review:Mixed; Canola Drops With Soy
WINNIPEG (Dow Jones)--Grain and oilseed futures at ICE Futures Canada closed Tuesday's session mixed, with canola
mainly pressured down by a big drop in Chicago Board of Trade soy-complex values, brokers said.

EU Wheat: Drift Lower, Lack Impetus To Take Clear Direction
LONDON (Dow Jones)--European wheat futures traded lower Tuesday, lacking direction with no change in fundamentals and
vulnerable to outside markets.