St. Joseph, MO Fri Aug 08, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, Corn closed with slight to modest gains, wheat traded
mostly higher while soybeans closed lower. Corn and soybean crops are still
seeing pleasant to ideal weather conditions across the Corn Belt as August’s
weather started with good growing conditions that are weighing on the markets.
Corn and soybeans traders are still aware of bearish fundamental situations as
the forthcoming U.S. crop looks to set records with ending stocks expected to
increase significantly as yield estimates continue to improve. Wheat found some
support this week from concerns again rising in the Ukraine on Russian troop
builup. Weekly export sales for corn totaled 34.6 mb with 4.8 mb for 2013-2014
marketing year. Soybeans had weekly export sales of 40.5 mb with 3.5 mb for the
2013-2014 marketing year. Wheat had weekly export sales of 22.8 mb with 21.7 mb
for the 2014-2015 marketing year. Wheat closed the week mostly 5 3/4-13 1/2
higher. Corn traded 2 1/2-5 cents higher, with sorghum mostly 7-22 cents
higher. Soybeans closed 4-29 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 5
3/4 cents higher to 3 3/4 cents lower from 7.36 1/4-7.56 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 34 cents higher to 7 cents lower at 5.13
per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 13 1/2-33 1/2 cents higher from 8.29 1/2-8.49 1/2 per
bushel. Portland US Soft White wheat rail was 31 1/4 cents higher to 1 3/4
lower from 6.61 1/2-6.96 1/2 per bushel.
CORN: Kansas City US No 2 rail White Corn had no bid this week. Kansas City
US No 2 truck Yellow Corn was 2 1/2-4 1/2 cents higher from 3.59 1/2-3.66 1/2
per bushel. Omaha US No 2 truck Yellow Corn was 5 cents higher from 3.45-3.47
per bushel. Chicago US No 2 Yellow Corn was 2 1/2 cents higher to 14 1/2 cents
lower from 3.45 1/2-3.77 1/2 per bushel. Toledo US No 2 rail Yellow corn was 2
1/2 cents higher from 3.48 1/2-3.50 1/2 per bushel. Minneapolis US No 2 Yellow
corn rail was 9 1/2 cents higher at 3.36 1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 6 1/4 cents higher at 3.81 3/4 per bushel. US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was .25 cents
higher at 5.85 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 7 cents higher at 6.45 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 13 to 22 cents higher from 6.15-6.33 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 2 1/2 cents lower at 11.88
per bushel. Illinois Processors US No 1 Yellow truck soybeans were 4-14 cents
lower from 12.48-12.78 per bushel. Kansas City US No 2 Yellow truck soybeans
were 29 cents lower at 12.53 per bushel. Central Illinois 48 percent Soybean
meal, processor rail bid was .70-1.70 lower from 436.60-438.60 per ton. Central
Illinois Crude Soybean oil processor bid 16-116 points lower from 35.70-37.20
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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