National Grain Market Review - Week ending Dec. 23rd
Wednesday, December 28, 2016 8:03 AM
Compared to last week, grain and soybean bids both traded mostly lower.
With the end of the year edging closer trading volume continues to thin with traders finding little reason to be active in the market until after the holidays. The South American soybean harvest has begun, which is also putting some pressure on the soy complex. Weekly export sales and shipments for wheat
totaled 10.9 and 15.1 mb, respectively, which are bearish amounts. Weekly exports for corn totaled 49.2 mb, with shipments at 30.7 mb, which is enough to keep total exports up 73 percent from a year ago and can be viewed as bullish. Export sales and shipments for soybeans totaled 66.6 and 66.2, respectively, which also can be considered bullish news. Wheat was mostly 4-33 cents lower. Corn was mostly 4-15 cents lower. Sorghum was 16-18 cents lower. Soybeans were 31-34 cents lower.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO