Weekly grain report

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

5/18/12: It’s certainly been quite a week in the wheat markets as Chicago futures rallied nearly a dollar per bushel since Tuesday. New-crop soft white prices benefited much more than old crop but both enjoyed nice gains, although not nearly what futures were able to do. Basically the pressure of speculative liquidation from the past two weeks finally lifted, and then concerns over world weather for new-crop wheat started to pop up. Dry weather developing in Russia has the markets on edge after what happened two years ago. T...