National Grain Summary, week ending Jan. 13th
Wednesday, January 18, 2017 9:20 AM
Compared to last week, grain and soybean were mixed. Soybeans saw support from concerns over weather conditions in South America. The January Supply and Demand Report was released on Thursday with USDA reducing soybean ending stocks by 60 mb, now at 420 mb. Corn ending stocks were also reduced from 2.403 to 2.355 billion bushels. Export sales and shipments for wheat totaled 14.4 mb and 6.3 mb, respectively. For corn, export sales totaled 29.7 mb and shipments were at 27.3 mb. The report is neutral to bearish for wheat and corn. Export sales for soybeans totaled 10.7 mb and shipments totaled 52.6 mb. These numbers may be viewed as bullish for soybeans. Wheat was steady to 33 cents higher. Corn was mostly steady to 11 cents lower. Sorghum was 5 cents lower. Soybeans were 22-27 cents higher.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO