Weekly grain report

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

10/19/12: The wheat market got some bullish news on Friday, as the Ukraine is looking to possibly ban exports in the middle of November. There was also a fairly large sale of U.S. wheat to an unknown destination which included 4.3 million bushels of HRW, 1.8 million DNS and 2.13 million of soft white. This sounds like China and comes after they bought a significant amount of Canadian wheat earlier in the week. At the end of the day the gains were trimmed, as most of the outside markets weren’t doing well and the dollar was rallying.

10/22/12: Not much for news today, as the grain markets seem to be waiting for the next big event to drive them, whatever that is. Soybean export shipments were very strong today with over 60 million bushels sent out. Corn and wheat shipments continue to lag the needed weekly totals by a healthy margin. Until the U.S. starts to pick up some wheat export business prices will be vulnerable to continued setbacks.