National Grain Summary - Week ending Mar. 24th
Wednesday, March 29, 2017 9:44 AM
Compared to last week, wheat, corn, soybeans, and sorghum were lower. Although we are anticipating South America to have record corn and soybean production corn demand continues to do well. U.S. corn prices remain attractive for more export business. The U.S. and Brazil’s soybean prices are priced close enough that the U.S. continues to see moderate export business. Wheat supplies in the U.S. remain at their highest in decades, however, this year’s crop ratings for winter wheat in the southwestern Plains were lower than a year ago. Most short-term trends are pointing down with most futures spreads suggesting a bearish commercial outlook. Weekly export sales for wheat was listed at 20.9 mb (568,300 mt) with 15.4 mb (418,500 mt) for the 2016-2017 marketing year. Export sales for corn came in at 58.0 mb (1,474,100 mt) with 53.0 mb (1,347,000) for the 2016-2017 marketing year. Soybeans were at 30.1 mb (818,100 mt) with 27.1 mb (738,200 mt) for the 2016-2017 marketing year. Weekly export sales for sorghum were at 8.5 mb (215,600 mt) for the 2016-2017 marketing year. Wheat was 12 to 45 cents lower. Corn was 2 to 17 cents lower. Sorghum was 16 to 17 cents lower. Soybeans were 5 to 10 cents lower.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO