St. Joseph, MO Fri Aug 29, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, wheat closed with modest to sharp gains, Corn traded
mostly higher while soybeans traded very mixed depending on basis changes. Corn
and soybean crops are still seeing good growing conditions with some areas this
week seeing plenty of rain with soggy fields. There continues to be reports of
sudden death syndrome in soybean fields in the Corn Belt and it’s difficult to
know how much yield loss may occur. Corn and soybeans traders are still aware
of bearish fundamental situations as the forthcoming U.S. crop looks to set
records with ending stocks expected to increase significantly as yield estimates
continue to improve. There have been noticeable large drops in soybean basis
the past few days, along with soybean meal basis as soybean meal supplies are
low. Weekly export sales for corn totaled 26.1 mb with cancellations of 1.3 mb
for 2013-2014 marketing year. Soybeans had weekly export sales of 45.1 mb with
a reduction of 2.3 mb for the 2013-2014 marketing year. Wheat had weekly export
sales of 14.8 mb for the 2014-2015 marketing year. Wheat closed the week mostly
13 3/4-36 1/4 cents higher. Corn traded mostly 3-11 cents higher, with sorghum
steady to 1 cent higher. Soybeans closed mixed.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
16 3/4-22 3/4 cents higher from 7.34 3/4-7.64 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 8 cents lower to 10 cents higher from at 5.08 per
bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 36 1/4-76 ¼ cents higher from 8.62-8.82 per bushel.
Portland US Soft White wheat rail was 11 3/4-13 3/4 cents higher from 7.00-7.11
3/4 per bushel.
CORN: Kansas City US No 2 rail White Corn had no bid this week. Kansas City
US No 2 truck Yellow Corn was 10 1/2-15 1/2 cents lower from 3.61 3/4-3.66 3/4
per bushel. Omaha US No 2 truck Yellow Corn was 4-11 cents higher at 3.66 per
bushel. Chicago US No 2 Yellow Corn was 1/2 cent lower to 9 1/2 cents higher
from 3.53 3/4-4.06 3/4 per bushel. Toledo US No 2 rail Yellow corn was 1/2 cent
lower to 3 cents higher from 3.57 1/4-3.58 3/4 per bushel. Minneapolis US No 2
Yellow corn rail was 11 1/2 cents higher at 3.44 3/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 12 1/4 cents lower to 2 3/4 cents higher from 3.76-3.91 per bushel. US
No 3 or better rail malting Barley, 70 percent or better plump out of
Minneapolis was .25 cents higher at 5.75 per bushel. Portland US 2 Barley, unit
trains and Barges-export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was steady at 5.88 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was steady to 1 cent higher from 5.97-6.20 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 8 1/2 cents lower at 10.07
3/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 29 1/2 -
79 1/2 cents lower from 12.08 3/4-13.28 3/4 per bushel. Kansas City US No 2
Yellow truck soybeans were 95 1/2 cents higher at 13.78 3/4 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 31.40-69.40 higher from
553.20-633.20 per ton. Central Illinois Crude Soybean oil processor bid 14
points lower from 33.39-34.89 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Greg Harrison, Market Reporter (816)676-7000
For more Grain Market News:
Weekly National Grain Market Review