National Grain Market Review - week ending Jan. 6th
Wednesday, January 11, 2017 8:46 AM
Compared to last week, grain and soybean opened the year on a positive noted with bids trading higher.
Corn and soybeans continue to find support from weather concerns in South America. Corn saw additional boost from the release of last week’s ethanol production numbers. There were 1.043 million gallons of ethanol produced each day, which is a record high. Ethanol inventory held steady at 18.7 million barrels. The weekly export sales and shipments report will be released later today; however, many will be anticipating the USDA’s January WASDE and quarterly Grain Stocks report, both due out Thursday, January 12th. Wheat was mostly 11-27 cents higher. Corn was 9-16 cents higher. Sorghum was 19-21 cents higher. Soybeans were 4-9 cents higher.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO