St. Joseph, MO Fri Oct 31, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids closed higher. Corn and
soybean bids found support from slower harvest, as corn harvest is moving along
at a slower pace than usual with 46 percent completed with the 5-year average of
65 percent. In many areas farmers have switched to cutting beans ahead of corn
mostly due to the price difference and letting corn dry down for moisture
content. Soybeans found support this week as soybean meal found very good
demand along with the soybean crush. The extended forecast looks favorable for
progress. Soybeans saw additional support from dry weather concerns in Brazil.
Weekly export sales of corn were bearish totaling 21.0 mb with 19.3 mb for the
2014-2015 marketing year. Soybeans had bullish export sales totaling 48.7 mb
for the 2014-2015 marketing year. Wheat had export sales of 16.9 mb with 16.3
mb for the 2014-2015 marketing year. Wheat was mixed, mostly 10-21 cents
higher. Corn traded 14-21 cents higher with grain sorghum 25-52 cents higher.
Soybeans were mostly 21-36 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
3 1/4-8 1/4 cents lower from 7.32-7.57 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 10 cents higher from 4.11-4.96 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 21
3/4-61 3/4 cents higher from 8.17 3/4-8.82 3/4 per bushel. Portland US Soft
White wheat rail was 3/4-15 3/4 lower from 6.81-7.01 per bushel.
CORN: Kansas City US No 2 rail White Corn was 10-12 cents higher from 3.61-
3.72 per bushel. Kansas City US No 2 truck Yellow Corn was 14 1/4 cents higher
at 3.24 per bushel. Omaha US No 2 truck Yellow Corn was 7-9 cents higher from
3.29-3.32 per bushel. Chicago US No 2 Yellow Corn was 14 1/2-21 1/2 cents
higher from 3.36-3.84 per bushel. Toledo US No 2 rail Yellow corn was 13 1/2-14
1/2 cents higher from 3.46-3.59 per bushel. Minneapolis US No 2 Yellow corn
rail was 14 1/4 cents higher at 3.24 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 10-22 cents lower from 3.44 1/2-3.88 1/2 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was steady at
7.35 per bushel. Portland US 2 Barley, unit trains and Barges-export was not
SORGHUM: US No 2 yellow truck, Kansas City was 43 cents higher at 6.50 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 25-52 cents higher from 6.41-6.86 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 36 cents higher at 9.99 1/4
per bushel. Illinois Processors US No 1 Yellow truck soybeans were 20-31 cents
higher from 10.04 1/4-10.34 1/4 per bushel. Kansas City US No 2 Yellow truck
soybeans were 31-36 cents higher at 9.84 1/4 per bushel. Illinois 48 percent
Soybean meal, processor rail bid was 27.60-35.60 higher from 426.00-440.00 per
ton. Central Illinois Crude Soybean oil processor bid was 164 points higher
from 34.31-36.31 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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