St. Joseph, MO Fri Aug 16, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids closed mixed. The grains saw
support from the bullish USDA report. Soybeans posted additional gains from
good demand and concerns of unseasonably cooler weather. Lack of rain and
warmer temperature outlook for some parts of the corn-belt also lend a boost to
corn. The USDA report for wheat had all wheat carryout pegging at 551 million
bushels which was down from the July estimate of 576 million. The world numbers
were slightly bearish. U.S. all wheat production for 2013-2014 was at 2.114
billion bushels, unchanged from last month’s forecast. World ending stocks for
2013-2014 came in at 172.99 million tonnes, up from last months numbers of
172.38 million. The U.S. corn yield was projected at 154.4 bushels per acre
with a total production at 13.76 billion bushels. Old crop carryout declined to
719 million bushels and new crop at 1.87 billion bushel. Soybean yield was at
42.6 bushel per acre. The total production was reduced by 17 million bushels to
3.25 billion bushels. Old crop carryout was left unchanged at 125 million
bushels. However, new crop was reduced to 220 million bushels.
Export sales for corn 836,100 tonnes, all for the next marketing year.
Weekly export sales for soybeans came in at 1,893,400 tonnes all for the next
marketing year. Net soybean meal sales came in at 122,400 tonnes for the
current marketing year and 121,100 for the next. Net soybean oil sales came in
at 1,800 tonnes for the current marketing year and 6,000 for the next. The NOPA
crush came in line with expectations at 116.34 million. Net weekly export sales
for wheat came in at 490,100 tonnes for the current marketing year and 5,500 for
the next for a total of 495,600 tonnes.
Wheat was mostly 1-21 cents higher. Corn was 6 cents lower to 26 cents
higher. Sorghum was 35-59 cents lower. Soybeans were mostly 76-87 cents
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1
to 16 cents higher from 7.88-8.41 per bushel. Kansas City US No 2 Soft Red
winter rail bid was not quoted. St. Louis truck US No 2 Soft Red Winter
terminal bid was 25 cents lower at 6.27 per bushel. Minneapolis and Duluth US
No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 1 to 21 cents
higher from 8.29 1/2-8.59 1/2 per bushel. Portland US Soft White wheat rail was
3 to 7 cents higher from 7.20-7.32 1/2 per bushel.
CORN: Kansas City US No 2 rail White Corn was 6 cents lower to 10 cents
higher from 5.09-5.30 per bushel. Kansas City US No 2 truck Yellow Corn was 2
cents lower to 3 cents higher from 5.57-5.62 per bushel. Omaha US No 2 truck
Yellow Corn was 8 to 26 cents higher from 6.00-6.07 per bushel. Chicago US No 2
Yellow Corn was 8 to 18 cents higher from 5.41 1/2-6.31 1/2 per bushel. Toledo
US No 2 rail Yellow corn was 2 cents lower to 8 cents higher from 5.71 1/2-6.01
1/2 per bushel. Minneapolis US No 2 Yellow corn rail was 8 cents higher at 5.86
1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 10 3/4 20 3/4 cents higher from 4.02 3/4-4.17 3/4 per bushel. US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
steady at 6.15 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 59 cents lower at 8.43 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 35 cents lower at 9.96 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 13 3/4 cents lower at 12.94
1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 76 1/4
to 81 1/4 cents higher from 14.25 1/2-14.45 1/2 per bushel. Kansas City US No 2
Yellow truck soybeans were 87 cents higher at 14.31 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 11.20 to 15.20 higher
from 449.80-451.80 per ton. Central Illinois Crude Soybean oil processor bid
was 127 to 147 points higher from 41.82-43.42 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