St. Joseph, MO Fri July 11, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grains closed the week with sharp losses ahead of
USDA’s Supply and Demand Report due out Friday morning. Corn and soybean crops
are seeing positive to ideal weather conditions across the Midwest. Corn is
entering the key pollination period in very good conditions as temperatures
remain below average for the next ten days. Corn crop ratings remain very good
with 75 percent good to excellent and soybean crop rated 72 percent good to
excellent. Corn and soybeans are both expecting bumper crops with ending stocks
expected to increase significantly. Weekly export sales for corn totaled 29.3
mb with 14.3 mb for 2013-2014 marketing year. Soybeans had weekly export sales
totaling 21.4 mb with 2.1 mb for 2013-2014 marketing year. Wheat had weekly
export sales of 12.4 mb for the 2014-2015 marketing year. Wheat closed the week
mostly 50-81 1/2 cents lower. Corn traded 20-32 1/2 cents lower, with Sorghum
mostly 30 cents lower. Soybeans closed 57-67 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 50
to 60 cents lower from 7.57 1/4-7.67 1/4 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 5.57-5.63 per bushel. Minneapolis and Duluth US No 1 Dark
Northern Spring, 14.0 to 14.5 percent protein rail, was 56 1/2-81 1/2 cents
lower from 8.16-8.91 per bushel. Portland US Soft White wheat rail was 1/2 cent
higher to 9 1/2 cents lower from 6.48 1/2-7.00 per bushel.
CORN: Kansas City US No 2 rail White Corn was 20-24 cents lower from 3.85-
3.94 per bushel. Kansas City US No 2 truck Yellow Corn was 29 1/4-32 1/4 cents
lower from 3.91 1/4-3.94 1/4 per bushel. Omaha US No 2 truck Yellow Corn was
31 cents lower from 3.73-3.74 per bushel. Chicago US No 2 Yellow Corn was 24
1/4-26 1/4 cents lower from 3.71 1/4-4.00 1/4 per bushel. Toledo US No 2 rail
Yellow corn was 24 1/4-25 1/4 cents lower from 3.71 1/4-3.75 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 22 1/4 cents lower at 3.67 1/4 per
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 15-25 cents lower from 3.76 1/4-3.86 1/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
lower at 5.65 per bushel. Portland US 2 Barley, unit trains and Barges-
export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 30 cents lower at 7.01 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 6.63-6.73 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 67 cents lower at 12.78 3/4
per bushel. Illinois Processors US No 1 Yellow truck soybeans were 67 cents
lower from 13.12 3/4-13.52 3/4 per bushel. Kansas City US No 2 Yellow truck
soybeans were 57 cents lower at 13.27 3/4 per bushel. Central Illinois 48
percent Soybean meal, processor rail bid was 10.20-12.70 lower from 468.30-
471.80 per ton. Central Illinois Crude Soybean oil processor bid was 58-83
points lower from 37.98-38.48 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Greg Harrison, Market Reporter (816)676-7000
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