St. Joseph, MO Fri May 04, 2012 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids were lower with corn trading
slight to moderately higher. Grains saw losses on liquidation selling as
recession fears tied to Europe swept across the grain complex. The dollar
traded higher in response to the weaker Euro. Corn posted gains on strong
export sales for the week. Corn planting progress is ahead of schedule at 53
percent of the corn completed. Wheat also followed other grains lower. Ample
world wheat stocks are meeting global demands and limiting buyer interest. The
winter wheat areas have received sufficient rain and warm weather with crop
growth ahead of schedule. Weekly export sales for corn were well above
expectations at 3,472,200 tonnes with 1,331,900 tonnes slated for 2011-2012
season. The totals were the highest since 1991. Soybeans had weekly export
sales well above expectations at 1,732,000 tonnes with 598,000 tonnes slated for
2011-2012 season. Wheat had weekly export sales of 711,500 tonnes with 256,700
tonnes slated for 2011-2012.
Wheat was 2-25 cents lower. Yellow Corn was 5-14 cents higher. Sorghum was
7-31 cents lower. Soybeans were 4-18 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 17
cents lower from 6.58-7.13 per bushel. Kansas City US No 2 Soft Red winter rail
bid was 4 cents lower from 6.03-6.83 per bushel. St. Louis truck US No 2 Soft
Red Winter terminal bid was 19 cents lower at 6.31 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 2
1/2 to 22 1/2 cents lower from 8.80 1/2-9.05 1/2 per bushel. Portland US Soft
White wheat rail was 10 to 25 cents lower from 6.75-7.00 per bushel.
CORN: Kansas City US No 2 rail White Corn was 37 to 38 cents lower from
6.53-6.62 per bushel. Kansas City US No 2 truck Yellow Corn was 12 cents higher
at 6.48 per bushel. Omaha US No 2 truck Yellow Corn was 5 to 6 cents higher
from 6.35-6.38 per bushel. Chicago US No 2 Yellow Corn was 7 1/2 to 10 1/2
cents higher from 6.14 1/2-6.56 1/2 per bushel. Toledo US No 2 rail Yellow corn
was 8 to 12 cents higher from 6.34 1/2-6.35 1/2 per bushel. Minneapolis US No 2
Yellow corn rail was 14 1/2 cents higher at 6.19 1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 3/4 to 8 3/4 cents higher from 3.59 1/2-3.74 1/2 per bushel. US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
steady at 7.05 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available per cwt.
SORGHUM: US No 2 yellow truck, Kansas City was 7 to 16 cents lower from
10.27-10.36 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or
bid to the farmer, fob elevator) was 17 to 31 cents lower from 10.44-10.97 per
OILSEEDS: Minneapolis Yellow truck soybeans were 18 3/4 cents lower at 14.41
1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 4 3/4 to
10 3/4 cents lower from 14.76 1/2-14.83 1/2 per bushel. Kansas City US No 2
Yellow truck soybeans were 12 cents lower at 14.74 per bushel. Central Illinois
48 percent Soybean meal, processor rail bid was 6.60 higher from 415.80-428.40
per ton. Central Illinois Crude Soybean oil processor bid was 159 points lower
from 52.66-53.66 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Ortiz, Market Reporter (816)238-0678
For more Grain Market News:
Weekly National Grain Market Review
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