St. Joseph, MO Fri Sep 12, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids were mixed. The markets were
up and down anticipating the USDA report on Thursday. The report lowered
soybean yields and production but raised corn yields. Soybean yields were
lowered to 41.2 bushels per acre, a 1.4 bushel per acre drop with estimated
soybean production at 3.149 billion bushels down 3 percent from August
estimates. Corn yields were raised to 155.3 bushel per acre with total
production at 13.84 billion bushels, which would be a record corn crop if
materializes. Basis levels dropped severely for corn in some locations as new
crop is underway. Crop ratings were also lowered due to hot and dry conditions.
Early harvest is ongoing in parts of the southern Midwest with temperatures
hitting near record highs earlier this week across the corn-belt. However, a
cool down came later as temperatures dropped into the 70’s and 80’s. Wheat was
41 cents lower to 12 cents higher. Yellow Corn was 35 cents to 1.14 lower.
Sorghum was 10-27 cents higher. Soybeans were 31 cents lower to 68 cents
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 12
1/2 cents higher from 7.87 3/4-8.21 3/4. 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 8 cents higher at 6.23 per bushel. Minneapolis and Duluth US No 1 Dark
Northern Spring, 14.0 to 14.5 percent protein rail, was 1 1/2 to 41 1/2 cents
lower from 8.09 3/4-8.54 3/4 per bushel. Portland US Soft White wheat rail was
15 cents lower to 2 3/4 cents higher from 7.05-7.28 per bushel.
CORN: Kansas City US No 2 rail White Corn was 1 cent lower to 6 cents higher
from 4.92-5.06 per bushel. Kansas City US No 2 truck Yellow Corn was 44 3/4
cents lower at 5.16 1/4 per bushel. Omaha US No 2 truck Yellow Corn was 35 to
45 cents lower from 5.01-5.11 per bushel. Chicago US No 2 Yellow Corn was 81
3/4 to 84 3/4 cents lower from 4.49 1/4-5.16 1/4 per bushel. Toledo US No 2
rail Yellow corn was 1.02 3/4 to 1.14 3/4 lower from 4.78 1/4-4.81 1/4 per
bushel. Minneapolis US No 2 Yellow corn rail was 63 3/4 cents lower at 4.77 1/4
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 1/4 cents lower from 3.33 1/4-3.53 1/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
lower at 5.35 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 10 cents higher at 8.33 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 11 to 37 cents higher from 7.61-7.78 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 10 1/2 cents higher at
13.70 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 16 1/2
to 31 1/2 cents lower from 14.96-15.06 per bushel. Kansas City US No 2 Yellow
truck soybeans were 68 1/2 cents higher at 15.46 per bushel. Central Illinois
48 percent Soybean meal, processor rail bid was 3.30 lower to 11.70 higher from
549.20-551.20 per ton. Central Illinois Crude Soybean oil processor bid was 16
to 41 points lower from 41.28-43.78 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Oriz, Market Reporter (816)238-0678
For more Grain Market News:
Weekly National Grain Market Review