St. Joseph, MO Fri Nov 01, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grains all traded lower for the week. Corn and
soybean markets came under pressure this week as U.S. harvest advances leading
to abundant supplies heading to storage. Corn dropped to a 3-year low on
beneficial weather as nearly 60 percent of the corn crop is complete with
estimates of this being the largest corn crop on record. Corn prices will be
influenced by the strength of demand going forward and rate of consumption.
Soybean crop is at 77 percent completed with reports of soybean yields better
than expected. Winter wheat is reported at 86 percent completed with rains in
the Southern Plains should help to boost prospects for wheat. Export sales came
in above expectations with corn having a 3-week total of 5,293,500 mt (208.4 mb)
with 4,555,000 mt (179.3 mb) for the 2013-2014 marketing year. Soybeans had
bullish export sales for the 3-week period showing 4,742,000 mt (174.2 mb).
Wheat had strong export sales with a 3-week total of 1,308,800 mt (48.1 mb).
Wheat was mostly 5-24 cents lower. Corn traded 7-17 cents lower with sorghum
trading 3-22 cents lower. Soybeans were 19-31 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 4
3/4 to 15 3/4 cents lower from 8.43 1/2-8.90 1/2 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 21 cents lower at 6.88 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 32
3/4 cents higher to 1 ¾ cents lower from 8.80 1/4-9.00 1/4 per bushel. Portland
US Soft White wheat rail was 19-24 cents lower from 7.05 1/2-7.17 1/2 per
CORN: Kansas City US No 2 rail White Corn was 10 to 11 cents lower from
4.68-4.75 per bushel. Kansas City US No 2 truck Yellow Corn was 12-17 cents
lower from 4.18 1/4-4.23 1/4 per bushel. Omaha US No 2 truck Yellow Corn was
12 cents lower from 4.18-4.23 per bushel. Chicago US No 2 Yellow Corn was 7 to
13 cents lower from 4.18 1/4-4.30 1/4 per bushel. Toledo US No 2 rail Yellow
corn was 12-17 cents lower from 3.96 1/4-4.03 1/4 per bushel. Minneapolis US No
2 Yellow corn rail was 14 cents lower at 4.06 1/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 6 cents higher to 14 cents lower from 3.50 1/4-3.65 1/4 per bushel. US
No 3 or better rail malting Barley, 70 percent or better plump out of
Minneapolis was steady at 5.50 per bushel. Portland US 2 Barley, unit trains
and Barges-export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 12 cents lower at 7.47 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 3 to 22 cents lower from 7.02-7.47 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 31 1/2 cents lower at
12.61 1/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 25
1/2 to 28 1/2 cents lower from 12.87 1/4-12.95 1/4 per bushel. Kansas City US
No 2 Yellow truck soybeans were 19 1/2 cents lower at 12.80 1/4 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 22.40 lower
from 430.60-438.60 per ton. Central Illinois Crude Soybean oil processor bid
was 5 points lower to 20 points higher from 39.83-40.58 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