Weekly grain report

Byron Behne watches the grain markets for the Odessa Union Warehouse.

7/11/12: Holy cow what a morning! Chicago wheat futures ranged 45 cents and soft-white prices fluctuated 25 cents during the morning market hours. Chicago corn futures ranged 63 cents on the day and closed 14 cents lower, which was 44 cents off their highs. The supply-and-demand report was not bearish, as the USDA cut the national corn yield more than expected but down to where the market was figuring it was anyway. They went from their early, pie-in-the-sky number of 166 bushels per acre down to 146. That cut expected corn...