Weekly grain report

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

1/18/12: Grain futures fell on Wednesday as some of the driest areas of Argentina look like they’ll get a drink in the coming days. This is most definitely a weather market, however white wheat has been able to hold up pretty well in the face of a sinking futures market. Portland prices are now about 30 cents per bushel higher than Chicago March futures, which hasn’t happened in quite awhile.

Strong feed wheat demand combined with a second tender in a week out of Japan for 1.2 million bushels of western white wheat are likel...