St. Joseph, MO Fri Aug 22, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, Corn and wheat closed with modest gains with soybeans
having good gains. Corn and soybean crops are still seeing pleasant to ideal
weather conditions across the Corn Belt as August’s weather has seen good
growing conditions that have weighed in 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. The Pro-Farmer Tour was
this week and pretty much confirmed a record crop for corn and soybeans.
Soybeans are receiving a boost this week as basis has improved for cash
soybeans, along with soybean meal basis as soybean meal supplies are low.
Weekly export sales for corn totaled 32.4 mb with 3.9 mb for 2013-2014 marketing
year. Soybeans had weekly export sales of 48.9 mb with a reduction of 3.3 mb
for the 2013-2014 marketing year. Wheat had weekly export sales of 7.7 mb for
the 2014-2015 marketing year. Wheat closed the week mostly 14-25 cents higher.
Corn traded 2-14 cents higher, with sorghum 8-24 cents lower. Soybeans
closed 26-42 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
13-30 cents higher from 7.12-7.48 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 9 cents higher from 4.98-5.16 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 25-
40 cents higher 7.85 3/4-8.45 3/4 per bushel. Portland US Soft White wheat rail
was 9-10 cents higher from 6.86 1/4-7.00 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 8 1/4 cents higher at 3.77 1/4 per bushel. Omaha
US No 2 truck Yellow Corn was 2-8 cents higher from 3.55-3.62 per bushel.
Chicago US No 2 Yellow Corn was 1/4-15 1/4 cents higher from 3.54 1/4-3.97 1/4
per bushel. Toledo US No 2 rail Yellow corn was 1/4-3 1/4 cents higher from
3.54 1/4-3.59 1/4 per bushel. Minneapolis US No 2 Yellow corn rail was 1/4
cents higher at 3.31 1/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 10 cents higher at 3.88 1/4 per bushel. US No 3 or better rail malting
Barley, 70 percent or better plump out of Minneapolis was .40 cents lower at
5.50 per bushel. Portland US 2 Barley, unit trains and Barges-export was not
SORGHUM: US No 2 yellow truck, Kansas City was 8 cents lower at 5.88 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 17 to 24 cents lower from 5.96-6.20 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 16 3/4 cents lower at 10.15
1/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 26 1/4-
42 1/4 cents higher from 12.88 1/4-13.58 1/4 per bushel. Kansas City US No 2
Yellow truck soybeans were 27 1/4 cents higher at 12.83 1/4 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 78.40-106.40 higher
from 521.80-563.80 per ton. Central Illinois Crude Soybean oil processor bid 48
points lower from 33.53-35.03 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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