St. Joseph, MO Fri Sep 06, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids were mostly lower. Soybeans
started out the week with sharp gains then retreated the rest of the week. But
bullish conditions for soybeans remain with hot dry conditions and the thought
of lower yield estimates and tight supplies going forward for 2013-2014.
Markets this week felt some pressure and uncertainty with the Syria situation
hanging over the markets. Corn continues to shrug off bullish dry conditions
and for the most part this week traded lower following normal seasonal patterns.
The corn market seems at this time to be comfortable with projected yields, as
early harvested corn in the south has had larger than expected yields. Corn
basis also continue to push lower across the Corn Belt. Next week USDA will
release its crop estimates report. Wheat has little news with spring wheat
harvest underway having better than expected yields. Wheat was mostly 6-27
cents lower. Corn traded mostly 20-86 cents lower depending on basis changes.
Sorghum traded from 38-2.38 lower. Soybeans closed 12-41 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 15
3/4-27 3/4 cents lower from 7.75 1/4-8.09 1/4. 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 21 cents lower at 6.15 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 6
3/4-31 3/4 cents lower from 8.51 1/4-8.56 1/4 per bushel. Portland US Soft
White wheat rail was 6-9 1/4 cents lower from 7.20-7.25 1/4 per bushel.
CORN: Kansas City US No 2 rail White Corn was 48 to 49 cents lower from
4.93-5.00 per bushel. Kansas City US No 2 truck Yellow Corn was 26 cents lower
at 5.61 per bushel. Omaha US No 2 truck Yellow Corn was 86 to 1.11 cents lower
at 5.46 per bushel. Chicago US No 2 Yellow Corn was 36 1/4-65 1/2 cents lower
from 5.31-6.01 per bushel. Toledo US No 2 rail Yellow corn was 20 1/2 cents
lower from 5.81-5.96 per bushel. Minneapolis US No 2 Yellow corn rail was 67
1/4 cents lower at 5.41 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 17 to 22 cents lower from 3.40 1/2-3.60 1/2 per bushel. US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was 5
cents lower at 5.40 per bushel. Portland US 2 Barley, unit trains and Barges-
export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 38 cents lower at 8.23 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 2.38-2.39 lower from 7.50-7.51 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 12 cents lower at 13.59 1/2
per bushel. Illinois Processors US No 1 Yellow truck soybeans were 4-9 cents
higher from 15.12 1/2-15.37 1/2 per bushel. Kansas City US No 2 Yellow truck
soybeans were 41 1/2 cents higher at 14.77 1/2 per bushel. Central Illinois 48
percent Soybean meal, processor rail bid was 12.10-15.10 higher from 537.50-
554.50 per ton. Central Illinois Crude Soybean oil processor bid was 34-84
points lower from 41.69-43.94 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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- Ag markets proved rather volatile again Thursday
- DHM Markets/Marketers: Cow culling lags; Pennsylvania heifers
- Farm Bureau fights EPA, tells members to ‘ditch the rule’
- How are you using incentive programs on your farm?
- Food waste-to-energy converter introduced at UC Davis