Weekly National Grain Market Review
St. Joseph, MO Fri May 09, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Grains all traded higher this week with wheat advancing with the most gains,
as grains position themselves ahead of USDA’s Supply and Demand Report to be
issued on Friday May 9th. Corn market this week continued to fight back above
the 5.00 mark as corn planting was at 29 percent completed to start the week as
cold wet weather has slowed the start of the planting season. This percentage
for corn planting should rise quickly this week as farmers have had several days
of dry warm weather to plant across the Midwest. Soybeans will be looking at
new-crop ending stocks in the USDA report which could be possibly bearish as
grain traders will be interested in the soybean numbers to come. The extended
weather forecast for the next 45 days will get plenty of attention as corn and
soybean planting and corn emergence will be watched carefully. The wheat market
especially the KC wheat market continues to make impressive gains due to the
drought concerns in the Southwest Plains is getting the wheat market plenty of
attention as the weather for the most part is not improving. Corn had weekly
export sales totaling 11.1 mb (282,300 mt) with 6.4 mb (161,300 mt) for 2013-
2014 marketing year. Soybeans had export sales of 2.0 mb (55,00 mt) with 1.5 mb
(40,800 mt) for 2013-2014 marketing year. Wheat had weekly export sales
totaling 16.4 mb (445,500 mt) with 11.8 mb (320,500 mt) for 2013-2014 marketing
year. Wheat closed mostly 23-54 cents higher for the week. Corn traded 9-14
cents higher with grain sorghum trading mixed from 18 cents lower to 17-34
cents higher. Soybeans closed 3 1/2-11 1/2 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 38
1/2 to 47 1/2 cents higher from 9.47 1/2-9.80 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 23-28 cents higher from 7.35-7.50 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 50 1/2 to 54 1/2 cents higher from 9.25 3/4-9.45 3/4 per
bushel. Portland US Soft White wheat rail was 10 to 18 cents higher from 7.90-
8.10 1/4 per bushel.
CORN: Kansas City US No 2 rail White Corn was 4 cents lower to 4 cents
higher from 4.99-5.07 per bushel. Kansas City US No 2 truck Yellow Corn was 9
1/2 cents higher from 5.12 1/2-5.14 1/2 per bushel. Omaha US No 2 truck Yellow
Corn was 9 to 11 cents higher at 5.02 per bushel. Chicago US No 2 Yellow Corn
was 6 1/2-14 1/2 cents higher from 5.01 1/2-5.14 1/23 per bushel. Toledo US No
2 rail Yellow corn was 9 1/2 cents higher from 4.92 1/2-4.97 1/2 per bushel.
Minneapolis US No 2 Yellow corn rail was 9 1/2 cents higher at 4.87 1/2 per
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was steady at 4.08 per bushel. US No 3 or better rail malting Barley, 70
percent or better plump out of Minneapolis was 25 cents lower at 6.00 per
bushel. Portland US 2 Barley, unit trains and Barges-export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 34 cents higher at 9.22 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 18 cents lower to 17 cents higher from 8.60-8.96 per
OILSEEDS: Minneapolis Yellow truck soybeans were 14 1/2 cents higher at
14.43 1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 3
1/2 cents higher from 14.89 1/2-15.19 1/2 per bushel. Kansas City US No 2
Yellow truck soybeans were 11 1/2 cents higher at 15.14 1/2 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 2.00-3.00 higher from
510.70-514.70 per ton. Central Illinois Crude Soybean oil processor bid was 4
points lower from 41.12-41.37 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Greg Harrison/Baldemar Ortiz, Market Reporter (816)676-7000
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