Weekly grain report

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

1/22/13: Chicago wheat fell 12 cents, posting a larger trading range than Friday and then closing lower. This seemingly puts a stop to our rally, as it gives off a pretty negative technical signal on the price charts. There wasn’t much news driving prices down today, but Northern Plains forecasts are a little wetter than they were last week. Corn was unchanged on the day and soybeans strongly higher on drier weather forecasts for Argentina.

1/25/13: Wheat export sales were decent this week but not large enough to generate any bullish excitement. However, Chicago wheat futures did manage to finish the day eight cents higher. Soft white wheat bids were unchanged from yesterday.

1/29/13: For all the volatility in the markets in the last few months, things sure have been boring lately. There just doesn’t seem to be a strong catalyst to break this market out in either direction for the time being. Unless exports begin to beat expectations, our gains over the last few weeks may begin to erode.