Relatively Steady Stuff — This Week in the Grain Markets



Grain markets this week were mostly lower as complex continued to trade sideways. They faltered on Friday with a strong US employment data report and poor US export sales from last week. US corn sales dropped 22% from the week previous, wheat export sales were down 85%, and soybeans were down 69% week-over-week to a marketing year low! That being said, basis for corn and soybean has been relatively steady to higher, supporting cash prices. While managed money covered a lot of wheat shorts last week, there was expectation more of that could happen this week (and it appeared to…

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