St. Joseph, MO Fri Jun 20, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids traded higher. Corn and
soybeans opened the week lower as pressure came from large crop outlook and high
crop ratings. Soybeans saw additional declines from concerns that demand might
fall in reaction to the DDG situation with China. However, the markets turned
into positive territory on increase ethanol production and good export demand.
The Midwest continues to see beneficial rain but some areas of the northern
corn-belt are saturated and flooded lending further support to grains. The corn
crop was rated 76 percent good to excellent, the highest rating for the week
since 1999. Soybeans were rated 73 percent good to excellent, the highest
rating for the week since 1986. The USDA report listed soybeans at 92 percent
planted. Wheat also saw gains from quality concerns as areas of the hard red
winter wheat continue to see moisture. The USDA listed wheat harvest at 16
percent. The harvest has moved north into Kansas, although progress is slow due
to wet weather. Wheat was 3-23 cents higher, with Minneapolis trading 1.56-1.66
higher. Corn was 1-9 cents higher. Sorghum was 11-12 cents higher. Soybeans
were 5-18 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 23
3/4 cents higher from 8.39 1/4-8.49 3/4 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 8 to 11 cents higher at 6.03 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 1.56
to 1.66 higher from 9.78-10.28 per bushel. Portland US Soft White wheat rail
was 3 1/2 to 8 1/4 cents higher from 6.83 1/2-7.18 1/2 per bushel.
CORN: Kansas City US No 2 rail White Corn was 1 to 8 cents higher from 4.36-
4.48 per bushel. Kansas City US No 2 truck Yellow Corn was 6 1/2 to 9 1/2 cents
higher from 4.58 1/2-4.62 1/2 per bushel. Omaha US No 2 truck Yellow Corn was 5
cents lower to 4 cents higher from 4.49-4.51 per bushel. Chicago US No 2 Yellow
Corn was 6 1/2 to 9 1/2 cents higher from 4.38 1/2-4.68 1/2 per bushel. Toledo
US No 2 rail Yellow corn was 6 1/2 to 9 1/2 cents higher from 4.36 1/2-4.37 1/2
per bushel. Minneapolis US No 2 Yellow corn rail was 1 1/2 cents higher at 4.30
1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 2 3/4 cents higher from 3.77 1/4-3.97 1/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 10 cents
higher at 5.75 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 11 cents higher at 8.04 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 11 to 12 cents higher from 7.78-7.79 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 5 1/2 cents higher at 13.97
3/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 11 3/4
to 18 3/4 cents higher from 14.37-14.74 per bushel. Kansas City US No 2 Yellow
truck soybeans were 8 3/4 cents higher at 14.49 per bushel. Central Illinois 48
percent Soybean meal, processor rail bid was 16.00 to 19.00 lower from 480.20-
482.20 per ton. Central Illinois Crude Soybean oil processor bid was 203 to 230
points higher from 40.86-41.11 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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