St. Joseph, MO Fri May 30, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids closed lower. The markets were
closed on Monday due to Memorial Day, with the grains opening Tuesday in
negative territory. Corn and soybeans saw pressure from favorable weather.
However, tight U.S. soybean stocks limited the losses. Corn planting is at 88
percent, on pace with the five year average. The extended forecast is still
calling for rain and warm temperatures. Wheat saw declines as world production
looks bearish. Wheat basis fell hard in KC as HRW wheat harvest is near. In
parts of the HRW wheat region the crop is in poor condition due to the lack of
moisture. The USDA listed spring wheat at 74 percent planted. Wheat was mostly
21-46 cents lower. Corn was 1-8 cents lower. Sorghum was 13 cents lower.
Soybeans were 16-24 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 36
1/4 to 46 1/4 cents lower from 8.20 1/2-8.30 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 to 25 cents lower from 6.38-6.40 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 26 1/2 to 36 1/2 cents lower from 8.39 1/2-8.64 1/2 per
bushel. Portland US Soft White wheat rail was 10 to 26 3/4 cents lower from
6.97 1/2-7.40 per bushel.
CORN: Kansas City US No 2 rail White Corn was 3 to 4 cents lower from 4.62-
4.68 per bushel. Kansas City US No 2 truck Yellow Corn was 1 1/4 to 5 1/4 cents
lower at 4.75 1/2 per bushel. Omaha US No 2 truck Yellow Corn was 7 to 8 cents
lower from 4.62-4.67 per bushel. Chicago US No 2 Yellow Corn was 7 1/4 cents
lower from 4.54 1/2-4.79 1/2 per bushel. Toledo US No 2 rail Yellow corn was 4
1/4 cents lower from 4.48 1/2-4.55 1/2 per bushel. Minneapolis US No 2 Yellow
corn rail was 5 1/4 cents lower at 4.45 1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 15 1/2 cents higher at 4.11 1/2 per bushel. US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was steady at 6.00
per bushel. Portland US 2 Barley, unit trains and Barges-export was not
SORGHUM: US No 2 yellow truck, Kansas City was 13 cents lower at 8.38 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 132 cents lower from 8.12-8.13 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 20 3/4 cents lower at 14.88
per bushel. Illinois Processors US No 1 Yellow truck soybeans were 16 to 17
cents lower from 15.26 3/4-15.62 3/4 per bushel. Kansas City US No 2 Yellow
truck soybeans were 24 3/4 cents lower at 15.44 per bushel. Central Illinois 48
percent Soybean meal, processor rail bid was 3.00 to 4.00 lower from 527.50-
530.50 per ton. Central Illinois Crude Soybean oil processor bid was 123 points
lower from 39.38-39.63 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Ortiz, Market Reporter (816)676-7000
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