Kevin reviews the weekly and cumulative export sales as well as basis changes this week.

Weekly Market Wrap Up for week ending February 20

Grain futures posted positive gains this week with beans up 23 and corn up 6, but in the cash market overall trends in the basis were mostly flat. Corn managed a 1-cent improvement on the week, while soybeans were unchanged on average across the country.

The USDA Ag Outlook Forum provided a boost for soybean prices on Thursday.

Grains saw some trend reversal overnight with corn and beans giving up some of their gains from the previous session while wheat recovered from its losses on Thursday.  Corn was down 1 cent a bushel, soybeans off 2 cents a bushel and wheat was up 2 cents.

The USDA Ag Outlook Forum...

Even with demand for corn on the rise, there was a decrease in ethanol stocks. The USDA outlook conference began today. Cody and Kevin will be look there for analyst estimates.

The USDA's Ag Outlook Forum lowered soybean acreage from 2014, will this lift soybeans?

In the overnight session corn traded down a penny, soybeans increased 5 cents and wheat fell 1 ¼ cents by the pause in trading. Corn is currently trading at $3.82 which is right on its 100 day moving average. Soybeans 100 day moving average hangs over prices at $10.07.  

Egypt rejects all tenders for U.S. wheat only. There was strong feed usage this past week, Kevin discusses if this will last.

The grains are trading slightly lower this morning after a positive day yesterday. Cold weather throughout the Midwest and an Egyptian tender has provided a bid under wheat.

In the overnight session corn traded down 2 ¼ cents, soybeans slipped 2 cents and wheat increased 1 ¾ of a cent. Be careful of soybeans hitting resistance during today’s trading session. We are currently trading near resistance from the lows of the soybeans channel that lasted from October...

Cody and Kevin look at Export Inspections and NOPA crush numbers for answers to today's move higher.

The grain markets rallied in the overnight session ahead of the NOPA crush report which is scheduled to be released later today.

The grains are trading higher this morning with corn up 2 ¼ cents, soybeans up 8 cents and wheat trading up a sharp 9 cents higher.

NOPA Soybean crush data is scheduled at 11 AM CST today. Analysts are expecting 162.673 million bushels which would be a decline from last month’s figures...

Kevin and Cody go over Tuesday's NOPA crush report expectations as well as the change in US basis over the last week