St. Joseph, MO Fri Jun 06, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids traded lower. Corn closed with
modest losses and soybeans saw sharp declines on favorable weather. Warm
temperatures and sufficient rain across most of the Midwest has been good for
crop conditions. Early in the week, severe thunderstorms moved across the corn-
belt producing large hail and high winds, along with heavy rain causing flooding
in some areas. Parts of the Missouri River crested above flood stage due to
heavy rain in Nebraska and Iowa. These states did report some crop damage. The
cash soybeans moved to the August contract month with basis weakening during the
week. USDA reported 95 percent of the corn planted with 78 percent of the
soybeans. Wheat saw pressure from plentiful world stocks supplies and slow U.S.
wheat exports. Global wheat conditions remain in good shape. Wheat was mostly
15-30 cents lower. Corn was 15-20 cents lower. Sorghum was 36-37 cents lower.
Soybeans were 44-63 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 21
1/2 cents lower from 7.99-8.09 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 25 to 30 cents lower from 6.08-6.15 per bushel. Minneapolis and Duluth US
No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 21 cents
higher from 8.60 1/2-8.85 1/2 per bushel. Portland US Soft White wheat rail was
1 3/4 to 15 cents lower from 6.95 3/4-7.25 per bushel.
CORN: Kansas City US No 2 rail White Corn was 15 to 18 cents lower from
4.44-4.53 per bushel. Kansas City US No 2 truck Yellow Corn was 16 1/2 to 19
1/2 cents lower from 4.56-4.59 per bushel. Omaha US No 2 truck Yellow Corn was
16 to 18 cents lower from 4.46-4.49 per bushel. Chicago US No 2 Yellow Corn was
15 1/2 to 17 1/2 cents lower from 4.37-4.64 per bushel. Toledo US No 2 rail
Yellow corn was 16 1/2 to 20 1/2 cents lower from 4.32-4.35 per bushel.
Minneapolis US No 2 Yellow corn rail was 16 1/2 cents lower at 4.29 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 5 1/4 cents lower at 4.06 1/4 per bushel. US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was 15 cents lower
at 5.85 per bushel. Portland US 2 Barley, unit trains and Barges-export was not
SORGHUM: US No 2 yellow truck, Kansas City was 36 cents lower at 8.02 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 36 to 37 cents lower from 7.75-7.77 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 44 1/2 cents lower at 14.43
1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 50 1/2
to 56 1/2 cents lower from 14.76 1/4-15.06 1/4 per bushel. Kansas City US No 2
Yellow truck soybeans were 63 3/4 cents lower at 14.80 1/4 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 7.90 lower from 519.60-
522.60 per ton. Central Illinois Crude Soybean oil processor bid was 69 to 94
points lower from 38.44-38.94 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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