National Grain Summary - Week ending Feb. 10th
Wednesday, February 15, 2017 9:35 AM
Compared to last week, grain and soybean bids were mostly higher. March soybeans were higher aided by heavy rain expectations in northern Argentina for the next five days, as well as, hopes that trade tensions with China are easing after President Trump told China’s President he would accept the one-China policy. March corn remains with trends gradually higher and is still struggling with the January high. Weekly export sales for wheat was listed at 20.0 mb (543,600 mt) with 19.4 mb (527,300 mt) for the 2016-2017 marketing year. Export sales for corn came in at 39.6 mb (1,006,200 mt) with 38.3 mb (971,700) for the 2016-2017 marketing year. Soybeans were at 24.5 mb (665,600 mt) with 19.7 mb (536,300) for the 2016-2017 marketing year. The numbers were viewed as bullish for soybeans. Weekly export sales for sorghum were at 0.3 mb (8,300 mt) for the 2016-2017 marketing year. Wheat was 5-16 cents higher. Corn was mostly 2-3 cents higher. Sorghum was 8 cents lower to 3 cents higher. Soybeans were 12-18 cents higher.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO