National Grain Summary - Week ending Jan. 27th
Wednesday, February 01, 2017 8:54 AM
Compared to last week, grain and soybean were lower with wheat trading mixed. Soybeans and corn were pressured by concerns of future export business and South American harvest, along with talks of increased acres for soybeans. Early in the week, Brazilian soybean harvest was at 3 percent complete. Last week’s export sales and shipments for wheat totaled 35.2 and 10.9 mb, respectively, which may be viewed as neutral. Export sales for corn totaled 54.8 mb, with shipments at 38.5 mb. This may be viewed as neutral; however, exports for 2016-17 are 68 percent higher than the previous year. For soybeans, export sales and shipments totaled 24.4 and 46.4 mb, respectively. Both numbers are above the amount needed to keep on pace and may be viewed as bullish. Wheat was 30 cents lower to 10 cents higher. Corn was 2-4 cents lower. Sorghum was 4-43 cents lower. Soybeans were 18-23 cents lower.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO