St. Joseph, MO Fri Aug 02, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids closed lower with wheat trading
higher. Corn and soybeans again this week saw modest to sharp declines
depending on basis levels. Rain remains in the forecast for the next 5-7 days
help to post new lows for corn and soybeans. Sharply higher dollar on Thursday
also help to pressure the market along with non-threatening temperatures. Lower
temperatures with limited chances for stressful heat has much of the Corn Belt
seeing good to excellent growing conditions which has put confidence at this
time of the possibility of a huge crop year in the making. Elevators and
processors have lowered their basis on increased producer selling and buyers’
having sufficient supplies until new crop is available. Weekly export sales for
corn were bullish at 1,225,200 mt (48.2 mb) with 134,000 mt (5.3 mb) for 2012-
2013 season. Soybeans had bullish export sales of 1,109,400 mt (40.8 mb) with
78,500 mt (2.9 mb) for 2012-2013. Whaet had bullish export sales of 596.900 mt
(21.9 mb). Wheat was mostly 5-16 cents higher. Yellow Corn traded in a wide
range depending on basis levels from 13-78 cents lower and Sorghum 13 to 1.82
cents lower. Soybeans closed 12-61 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 5
1/2 to 14 1/2 cents higher from 8.01 3/4-8.52 3/4 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 16 cents higher at 6.84 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 11
cents lower to 5 cents higher from 8.16 3/4-8.32 3/4 per bushel. Portland US
Soft White wheat rail was 5 3/4-23 3/4 cents higher from 7.23-7.30 per bushel.
CORN: Kansas City US No 2 rail White Corn was 1.00-1.09 cents lower from
5.32-6.42 per bushel. Kansas City US No 2 truck Yellow Corn was 73-78 cents
lower at 5.88 per bushel. Omaha US No 2 truck Yellow Corn was 3 cents lower to
4 cents higher from 5.70-5.73 per bushel. Chicago US No 2 Yellow Corn was 88
1/2 cents lower to 16 ½ cents higher from 4.67 1/2-6.12 1/2 per bushel. Toledo
US No 2 rail Yellow corn was 13 1/2-48 1/2 cents lower from 5.87 1/2-6.27 1/2
per bushel. Minneapolis US No 2 Yellow corn rail was 12 1/2 cents higher at
5.72 1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 3/4 cents higher from 3.69 3/4-3.74 3/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
lower at 6.85 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 1.82 cents lower at 9.14 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 13 cents lower at 10.51 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 11 3/4 lower at 13.22 1/2
per bushel. Illinois Processors US No 1 Yellow truck soybeans were 32 3/4-42
3/4 lower from 13.52 1/2-13.62 1/2 per bushel. Kansas City US No 2 Yellow truck
soybeans were 61 cents lower at 12.68 per bushel. Central Illinois 48 percent
Soybean meal, processor rail bid was 64.40 to 70.40 lower from 447.40-477.40 per
ton. Central Illinois Crude Soybean oil processor bid was 152 to 157 points
lower from 41.19-42.74 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Greg Harrison, Market Reporter (816)238-0678
For more Grain Market News:
Weekly National Grain Market Review
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