Weekly grain report

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

5/10/13: The USDA supply and demand report was not very kind to the market on Friday as prices basically lost all their gains from Thursday. The major factor was next year's corn ending stocks projected at over 2 billion bushels versus this year’s 759 million. The USDA did drop their projected yield down to 158 from 164 which was projected early on at their February outlook conference. Soybean stocks also see a large jump doubling next year's ending stocks to use ratio versus this year. Wheat production was cut a couple hundred million bushels but received a nearly as large cut to projected demand leaving a burdensome 29.8% stocks to use ratio which is not much lower than this year’s. The world numbers were bearish for everything with wheat production expected to bounce back in a big way in Russia and the Black Sea region. From here on out it’s basically up to the weather which is always volatile.