National Grain Market Review - Week ending Feb. 3rd
Wednesday, February 08, 2017 9:17 AM
Compared to last week, grain and soybean were mixed. Soybeans were under pressure by favorable weather in South America and speculation of larger than expected production. Corn saw support from overnight export announcements and solid weekly export sales. Weekly export sales for wheat was listed at 18.7 mb (510,200 mt) with 16.6 mb (451,200 mt) for the 2016-2017 marketing year. Export sales for corn came in at 45.6 mb (1,157,700 mt) with 45.0 mb (1,143,700) for the 2016-2017 marketing year. Soybeans were at 35.8 mb (975,000 mt) with 22.9 mb (623,900) for the 2016-2017 marketing year. The numbers were viewed as bullish. Weekly export sales for sorghum were at 2.3 mb (58,800 mt) for the 2016-2017 marketing year. Wheat was 4 cents lower to 19 cents higher. Corn was mostly 3-4 cents higher. Sorghum was 8-47 cents higher. Soybeans were 4-14 cents lower.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO