Weekly grain report

9/28/12: There were no cash soft white markets this afternoon as Portland exporters went to basis only bids for white wheat due to extreme volatility in the market. Nobody wanted a repeat of two weeks ago when the wheat market matched its high for the year only to be down 50 cents on Monday. The lack of a futures market on Friday afternoon leaves only cash sales as the outlet for market risk and when there’s no sales to be had there’s no market. Going forward I expect this to become a theme this year with soft white prices being tied closer to Chicago wheat futures than they’ve ever been. If y...