National Grain Summary - Week Ending Dec. 16th
Wednesday, December 21, 2016 8:13 AM
Compared to last week, grain and soybean bids traded higher. Unfavorable weather conditions in South America lend support to the grains, along with good export demand. With the U.S. harvest season over, the focus is shifting to South America one of the biggest producers of grain. Weekly export sales and shipments for wheat totaled 18.5 and 20.4 mb, respectively. This is bullish news for wheat. Weekly exports for corn totaled 58.9 mb, with shipments at 53.8 mb. Both of these may be viewed as bullish for corn. Export sales and shipments for soybeans totaled 53.7 and 68.7, respectively, which also may be viewed as bullish news for soybeans. Wheat was mostly 1-14 cents higher, with Minneapolis 24-42 cents higher. Corn was 3-28 cents higher. Sorghum was 5-8 cents higher. Soybeans were mostly 2-6 cents higher.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO