Weekly National Grain Market Review
St. Joseph, MO Fri Aug 30, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids closed higher. Soybeans saw
sharp gains with the thought of tight supplies ahead and a late crop for both
corn and beans has the market bulls out. The hot dry weather ahead for the next
several days is expecting to stress the crops adding support to the markets.
However, milder temperatures are in the forecast for next week with little rain
expected. The Pro Farmer crop tour took place last week, and yields were
projected at lower levels than what USDA is estimating. Pro Farmer yield
estimates for the U.S. corn crop were at 154.1 bushels per acre and a total of
13.46 billion bu, while USDA is forecasting a 13.8 billion bu crop. Pro Farmer
set soybean yield at 41.8 bushels per acre with a crop size of 3.16 billion bu
as compared to the USDA estimate of 3.25 billion bu. Weekly export sales for
corn totaled 658,800 tonnes with cancellations of 15.000 tonnes for 2012-2013.
Soybeans had had export sales totaling 865,500 tonnes with cancellations of 3200
tonnes for 2012-2013. Wheat had bullish export sales totaling 551,300 tonnes.
Wheat was mostly steady to 1-16 cents higher with Minneapolis trading 68-90
cents higher. Corn was 6-32 cents higher. Sorghum was 29-31 cents higher.
Soybeans were 29-82 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 3
1/4 cents lower to 6 3/4 cents higher from 7.91-8.37 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 6.36 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 68
3/4 to 90 3/4 cents higher from 8.58-8.88 per bushel. Portland US Soft White
wheat rail was 3/4 to 13 3/4 cents higher from 7.29 1/4-7.31 1/4 per bushel.
CORN: Kansas City US No 2 rail White Corn was 6 to 9 cents higher from 5.41-
5.49 per bushel. Kansas City US No 2 truck Yellow Corn was 14 cents higher at
5.87 per bushel. Omaha US No 2 truck Yellow Corn was 14 to 32 cents higher from
6.32-6.57 per bushel. Chicago US No 2 Yellow Corn was 14 to 19 3/4 cents higher
from 5.67 1/4-6.66 1/2 per bushel. Toledo US No 2 rail Yellow corn was 6 cents
lower from 6.01 1/2-6.16 1/2 per bushel. Minneapolis US No 2 Yellow corn rail
was 16 3/4 cents higher at 6.08 1/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 5 to 15 cents higher from 3.57 1/2-3.82 1/2 per bushel. US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was 5
cents higher at 5.45 per bushel. Portland US 2 Barley, unit trains and Barges-
export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 31 cents higher at 8.61 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 29 cents higher at 9.89 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 29 3/4 cents higher at
13.71 1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 81
3/4 cents higher from 15.08 1/2-15.28 1/2 per bushel. Kansas City US No 2
Yellow truck soybeans were 82 cents higher at 15.19 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 73.10-91.10 higher from
522.40-442.40 per ton. Central Illinois Crude Soybean oil processor bid was 160
to 170 points higher from 42.53-44.28 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Ortiz, Market Reporter (816)238-0678
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