• The Grain report

    Thursdays weekly export sales report came out ahead of the open. Wheat sales were 919 t.m.t. versus 382 t.m.t. the week prior and four week average of 405. This was the highest weekly sales number since October of 2007. With wheat making a $1.50 four week high last week, you would think importers would back away and wait for better cash prices; instead they come in with panic buying. Their fear is if we don't buy wheat at $6, we could end up paying $7 or $8.